Shares of MRF scaled a millstone crossing Rs 1,00,000-level on Tuesday. A fresh breakout shall see this counter heading higher in the coming sessions.
The recent consolidation in the range of Rs 99,000 to Rs 95,000 level, post the upward rally that now resembles a “Flag pattern” indicates a robust underlying strength.
For an immediate swing, support of Rs 98,500 could be placed for an upward bias. Short-term support exists at Rs 96,000-mark followed by Rs 95,000 level.