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theapextrader7

Educational Swing trade in hindsight - not a future trade.

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MAHANAGAR GAS LTD (NSE:MGL)  
theapextrader7 Updated   
NSE:MGL   MAHANAGAR GAS LTD
Trend Analysis Support and Resistance Fibonacci swingtrading
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trendanalysis supportandresistance fibonacci swingtrading
Made swing low of 875 - 1108. Draw Fibonacci levels from swing high to swing low. Made shooting star price pattern (14th July) and bullish hammer (10th august) near Fibonacci 61 percent levels. Entry could have been in buy zone and target as near term resistance (1071) and Stop loss at swing low (875). 10 percent gain in a month could have been achieved.
Comment:
Bearish volumes around the specified fibonacci levels were low inside 61 and 50 percent levels signing the stock was bullish in short run.
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