MRPL: Refining Turnaround Back on the Radar

is showing renewed strength after a prolonged consolidation, with price reclaiming short-term averages on strong volumes. The stock is reacting positively to improving refining margins and PSU oil momentum, indicating that the recent dip may have been a higher-low setup rather than trend damage. Technical snapshot Price back above 9-EMA, indicating short-term trend reversal Rising volumes confirm genuine participation Stochastic RSI near overbought, but strength > weakness in trending phases Structure supports continuation above ₹170–175 Fundamental angle Beneficiary of GRM recovery and stable crude prices PSU oil stocks seeing renewed institutional interest Any improvement in capacity utilisation can act as a catalyst View: Momentum-driven recovery play; watch for follow-through above recent highs.