(Positional) Long MGL

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 active: First Target achieved.. heading to second target..

Trade active: Trailing SL -1020

Trade active: Trade is ON..