🚗 MRF Ltd – Resistance at ATH, Bearish RSI Divergence

🔹 Price Action MRF Ltd surged +9.17% to ₹1,53,885, reclaiming its previous all-time high (ATH) resistance zone. However, the weekly chart indicates caution as the stock approaches a channel resistance along with momentum fatigue. 🔹 Technical View Support Levels: ₹1,52,200 → ₹1,38,400 → ₹1,33,300 Resistance Levels: ₹1,55,000 (ATH zone) Indicators: Bearish RSI divergence → while price is making higher highs, RSI is trending lower. Price is at the upper channel resistance, suggesting overextension. Recent rally came on relatively lower strength compared to earlier peaks. 🔹 Strength & Weakness ✅ Price reclaiming ATH → strong demand zone confirmed. ⚠️ Bearish RSI divergence indicates momentum exhaustion. ⚠️ Multiple resistance confluences (ATH + channel top) → likely to trigger profit booking. 🔹 Outlook Expect a near-term pullback/correction unless the stock gives a clean breakout above ₹1,55,000 with strong volumes. Downside support lies at ₹1,52,200 → ₹1,38,400. Sustained breakout above ₹1,55,000 could open doors for a new leg higher. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.