MGL Showing signs of strength
Updated
MGL
CMP 905
In our previous post we had recommended MGL for a buy around 860 for target of 920 and it worked to perfection to the point making a high of 919
https://in.tradingview.com/chart/MGL/a6YkqUfg-MGL-view/
Looking at the charts again we observe
- price action holding on to the gap zone between 902-868
- 20 day EMA crossover above 50 day EMA in late November- early December 2018
- thereafter re-test first at 50 day EMA and now we see price holding above 20 day EMA on 2 occasions
Given the set up one may consider to buy at cmp and on dips towards 888 for target of 933 / 965 / 1034 levels
SL if closing below 865
In case u LIKE the idea and find the analysis helpful do HIT the LIKE button and FOLLOW to get regular updates from us.
Take care & safe trading...!!!
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CMP 905
In our previous post we had recommended MGL for a buy around 860 for target of 920 and it worked to perfection to the point making a high of 919
https://in.tradingview.com/chart/MGL/a6YkqUfg-MGL-view/
Looking at the charts again we observe
- price action holding on to the gap zone between 902-868
- 20 day EMA crossover above 50 day EMA in late November- early December 2018
- thereafter re-test first at 50 day EMA and now we see price holding above 20 day EMA on 2 occasions
Given the set up one may consider to buy at cmp and on dips towards 888 for target of 933 / 965 / 1034 levels
SL if closing below 865
In case u LIKE the idea and find the analysis helpful do HIT the LIKE button and FOLLOW to get regular updates from us.
Take care & safe trading...!!!
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Note
Slowly and steadily winning the race.... May be Nothing spectacular so far but the ride has been smooth and easy without panic attacks to say the least and importantly The stock has done T1 & T2 quite comfortably
Enjoy the ride &
Happy trading...:-)
Note
MGLCmp 969.50
Consider booking partial profits and trail SL to 928 for balance.
Happy trading...!!!
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