R_A_G_A_S_J

MGL

Long
R_A_G_A_S_J Updated   
NSE:MGL   MAHANAGAR GAS LTD
On the daily chart stock price has formed "CUP & HANDLE " pattern and has given breakout on closing basis
* This breakout is accompanied with increase in volume which supports bullish sentiments ahead
* The daily and weekly strength indicator RSI and the momentum indicator Stochastic both are in positive territory which supports upside momentum to continue in near term.
* Stock price has given positive crossover from its 20,50 and 100 day SMA which indicates positive bias.
* The above analysis indicate an upside of 1039 - 1059 invalid close below 977. #Findyourtrade
Comment: 1st target archived made high of 1045, 4% Intraday.
Trade closed: target reached: Trade close 2nd target achieved. 6% in 3 days.

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