Search+Business News›Markets›Stocks›News›Stock Radar: MRPL bounces back after forming double bottom formation; stock still down 25% from highs – should you buy?Investment IdeasMangalore Refinery & Petrochemicals Ltd (MRPL) has shown a bullish comeback, forming a double bottom pattern around the ₹145-150 zone. SynopsisMangalore Refinery and Petrochemicals Ltd stock is showing positive signals. A double bottom formation on daily charts indicates a potential comeback for bulls. Experts suggest buying the stock for a target of Rs 180 in the coming weeks. The stock has reclaimed its 200-day moving average, a bullish sign.Mangalore Refinery & Petrochemicals Ltd (MRPL), part of the refinery industry, bounced back after forming a double bottom formation on the daily charts earlier in June which suggests that bulls are trying to make a comeback.Short-term traders with a high-risk profile can look to buy the stock for a possible target towards Rs 180 in the next few weeks, suggest experts.The stock hit a high of Rs 214 on 9th March 2026, but it failed to hold the BYETMarkets.com 3 mins readJun 16, 2026, 05:00:00 AM ISTGift this Story to your friendsFONT SIZEAbcSmallAbcMediumAbcLargeSAVEPRINTCOMMENTContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories & personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions & in-depth stock reportsSubscribe NowETUh-oh! This is an exclusive story available for selected readers only.Worry not. You’re just a step away.What’s Included withETPrime Membership