MADRASFERT On Radar

📊 Trade Setup Summary – Madras Fertilisers Ltd (NSE: MFL)
Element Details
Entry Around ₹99.12
Target ₹104.5 to ₹108 (approx. 5–9%)
Stop-Loss Below ₹88
Risk:Reward 1:2 (ideal setup)
Volume Massive spike – likely breakout volume
Bollinger Bands Breakout above mid-band, retest near lower band = strength

📌 Strategy Logic
Fib Retracement (0.382–0.5) zone held well – classic pullback area.

Bullish candle with strong volume indicates continuation after consolidation.

Bollinger midline bounce + volume confirms institutional interest.

✅ Target Expectation
Expect 4–5% move in 3–5 sessions, if the breakout sustains.

First resistance zone near ₹104–105, stronger resistance near ₹108–110.

⚠️ Final Notes:
💬 Don’t be greedy. Expect 4–5%.
🧠 Do your own analysis before executing trades like this.