Current Performance:
As of September 6, 2024, MRF share price stands at ₹134,260.75. The stock has demonstrated consistent growth this year, climbing by ₹4,681.50 (approximately 3.61%) since January 2024.
Price Predictions for 2024:
MRF is expected to see moderate growth for the remainder of 2024. The price targets based on technical analysis and price action suggest the following levels:
- Target 1: ₹135,582.40 (+0.98%)
- Target 2: ₹136,999.25 (+2.03%)
- Target 3: ₹138,448.90 (+3.11%)
On the downside, potential stop loss levels are placed at ₹133,390.00, ₹132,000.00, and ₹130,660.29, indicating possible correction points.
Resistance and Support Levels:
MRF has a 52-week high of ₹151,445.00, acting as a significant resistance level. Conversely, its 52-week low stands at ₹106,405.00, which may serve as a strong support level for the stock.
Future Outlook:
Looking forward to 2025, MRF is forecasted to achieve higher returns with price targets ranging between ₹168,297.56 and ₹173,210.17, implying a potential upside of over 25%.
This makes MRF a relatively stable stock with good long-term prospects, though investors should be mindful of market volatility and plan their investments accordingly.
