MRF Ltd – Wave 5 Ending Diagonal & RSI Warning

The weekly chart of MRF Ltd appears to be completing a Wave 5 ending diagonal, a structure that often marks the final leg of a larger impulse. The internal waves (i)–(v) overlap neatly within converging trendlines, signalling exhaustion rather than expansion.

Meanwhile, RSI is diverging—price printed a new high, but momentum failed to confirm. This bearish divergence suggests the rally is running on fumes.

A break below the lower wedge line could open the door for a sharp corrective decline, potentially retracing a good portion of the entire fifth-wave rise.

Summary:
Final push likely done. Momentum fading. Watch the wedge support—if it cracks, the tyre may finally deflate.


Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.