MGL took support from this zone again and If the support zone doesn't break MGL may touch the upper yellow line in upcoming Trading sessions.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
I have posted this in my earlier post for MGL.
Hope you were on the right side today. (14-07-2021)
In starting of today it was a bull trap.
It is always to remember that never chase a long upside or long downside move in stock at the beginning of trade. 85% chances are there that it will reverse.
Though the target was small on...
Today MGL RSI shows bearish divergence. Couldn't break the 1190 resistance levels.
Stock was trading sideways and with a bit higher high formation but the RSI was making lower highs. This is a sign of weakness in stock.
Stock is not ready to go up at this moment. One correction is still required.
Keep tracking of this stock for tomorrow as MGL...
MGL should continue its journey to the upward, as the correction in completed
Entry : 990 <=> 975 Range
Stoploss : 3% (Closing Basis)
Basic Target: 1200
if you have any queries regarding above idea or any other stock feel free to D'M
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Mahanagar Gas Limited (MGL) looks bearish for short term.
Sell Below: 775 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this...