MRPL is going against the market tide, and if the investors want to take advantage of this volatility, buy it around Rs 127.45. The stop loss is at Rs 123, and it will definitely reach above Rs 135. The maximum target for the day is Rs 140.

MRPL is looking too strong at current levels. The stock opened at Rs 129.5 as against its last closure at Rs 127.45 on BSE. The 52-week high of the stock was Rs 148.6. Presently, it is hovering around Rs 134.

Stock analyst VK Sharma advised the investors not to stay with the stock more than a day.

MRPL is a modern Grassroot Refinery at Mangalore and is a subsidiary of ONGC. The Refinery has got a versatile design with high flexibility to process Crudes of various API and with high degree of Automation.

MRPL has a design capacity to process 9.69 million metric tonnes per annum and is the only Refinery in India to have 2 Hydrocrackers producing Premium Diesel (High Cetane). It is also the only Refinery in India to have 2 CCRs producing Unleaded Petrol of High Octane.