MRF stock on course to hit Rs 100,000-mark. Is it a good time to buy?

The monthly chart shows a strong bullish sentiment if the stock closes above 95,000 levels

Tyre stocks defied market gravity on Thursday and surged up to 10 per cent on the BSE as healthy automobile sales' recovery in January, and likely roll out of voluntary scrappage policy kept sentiment buoyant in the sector. 

Shares of Apollo Tyres hit 10 per cent upper circuit, while those of JK Tyre and Industries, Birla Tyres, CEAT, and Balkrishna Industries jumped up to 6 per cent. In comparison, the S&P BSE Sensex index was trading around 180 points or 0.3 per cent lower at 11:00 AM.

Among these, stock of MRF, which advanced 4 per cent at the