MRF recovers early loss despite 26.6% Q2 profit fall

MRF Q2 profit fell 26.6% to Rs 387 crore while revenue rose 17.4%. Support is at 115,000 and resistance at 136,000. MRF Limited [ MRF] recovered its early loss on 11 November 2026 after its Q2 consolidated results. At 11:30 am it traded 0.6% higher at Rs 125,905, despite profit falling 26.6% year on year to Rs 387 crore, against Rs 527.4 crore. Revenue grew 17.4% to Rs 8,660.2 crore from Rs 7,378.7 crore. On the daily chart, the stock slid from near 164,000 to a low close to 115,000 and remains in a larger downtrend. Last week price jumped sharply from that low, with the high near 129,000, and momentum turned positive. Today’s low of 123,760 was bought into, and price is holding above 125,000. In my view, the trend remains bearish, but momentum has turned positive after last week’s rebound. A move above 129,000 would bring the 136,000 resistance into focus. A fall below 123,760 would weaken the recovery, and a break of 115,000 support would renew the downtrend. Stance: bearish trend with positive momentum, with 115,000 as key support. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.