(Positional) Long MGL
Updated
About Stock: MGL is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and its adjoining areas. The company has very strong earnings strength.
Trade Setup: Stock has broken multi week high with volume and can be traded on long side. Momentum indicator RSI is also bullish on daily charts..
Buy Zone: 922-935
SL: 785
Target: Target1=1000, Target2=1092 Target 3=1248
Imp:
1. Trading requires more than technical analysis . e.g. Risk Management, trade management, psychology etc.
2. Always follow stop loss.
3. Once a trade is in your direction (say) 2-3%, never let it go in a loss.
4. Simply follow rules. Nothing else..
Disclaimer: This is for demonstration and educational purpose only.
Trade Setup: Stock has broken multi week high with volume and can be traded on long side. Momentum indicator RSI is also bullish on daily charts..
Buy Zone: 922-935
SL: 785
Target: Target1=1000, Target2=1092 Target 3=1248
Imp:
1. Trading requires more than technical analysis . e.g. Risk Management, trade management, psychology etc.
2. Always follow stop loss.
3. Once a trade is in your direction (say) 2-3%, never let it go in a loss.
4. Simply follow rules. Nothing else..
Disclaimer: This is for demonstration and educational purpose only.
Trade active
First Target achieved.. heading to second target..Trade active
Trailing SL -1020Trade active
Trade is ON..
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