IGL ● The stock has undergone a consolidation phase, formed an Ascending Triangle pattern. ● Following a breakout, it surged to an all-time high near ₹570 before experiencing a decline. ● Currently, a Rounding Top pattern has emerged, and after a gap down, the price is testing its trendline support. ● Importantly, there has been a notable increase in future open...
1880 - 1900 Strong resistance can now turn into support Breakout has happen with strong volumes Expecting a small pull back before rallying further 1980 can act as an SL area
Uptrend - I see a nice cup and handle formed. the cup has a double bottom as well. I like the pattern and expect a breakout soon. Stoploss is a must to keep you safe if it doesn't work.
At strong supply area May start a retracement journey downwards soon Expecting 1800 - 1740 soon 1880 strong resistence
Not a technical view but this call is based on fundamental work being done by MGL across Mumbai, Thane, kalyan and dombivili. MGL has invested heavily to setup gas pipelines across KDMC and TMC limits. These pipelines are being laid in very heavily populated areas and have lot of potentials to generate revenue as people subscribe to piped gas. This may take few...
MGL is a PSU stock in gas distribution. Stock had given good move after multiyear ATH breakout and is currently retesting the breakout. A safe stock for long term investors available at reasonable valuations.(Not a recommendation) The only risk with gas distribution stocks are margins are dependant on crude oil prices.
MAHANAGAR GAS LTD (1W TF) - Swing Trade Analysis given on 30th June, 2024 Pattern: RECTANGLE BOX BREAKOUT - Weekly Resistance Breakout - Done ✓ - Weekly Volume Buildup at Resistance - Done ✓ - Demand Zone Retest & Consolidation (for a small SL and a better RR) - In Progress * Disclaimer
Hi, A Bullish Flag & Pole pattern is visible on the daily chart of NSE:MGL after consolidation of around a month. Daily MACD have given negative crossover on 12'Feb 24 and it is turning to bullish. On weekly and monthly charts the MACD has already given a positive crossover. So, expecting the momentum to continue. All the Levels with proper stoploss...
As per Harmonic PRZ pattern, Mahanagar Gas may go further up till 1060 Stop loss 980 within a week time
IGL - Since Nov 28, the stock has seen some consolidation at current levels - 21 day EMA and 63 day EMA are at 430 and 415 respectively - Once above the red resistance zone, the stock can potentially move towards 480 / 502 levels Depending on your risk appetite and time horizon, you can use the 21 day EMA or 63 day EMA as SL Take care & safe...
MGL likely to trade in between this wedge pattern before breakout or breakdown. Trend mostly indicate breakout but downward retracement is expected as per RSI
From few months stock was trading in a sideways channel, now it has given breakout with good volume. If we observe short-term chart, stock has already given a symmetrical triangle breakout for which final target is not yet achieved. We can expect a good upside momentum if price closes above 905. 830-845 levels should act as strong support. Considering the...
05/04 educational purpose only buy on dips sl below 790.35 targets around 850 / 890
Buy mahanagar gas near 825 with stop loss 770 for 25 % gain with a month
MGL is at a crucial point with multiple signs of movement and we are tracking a little ahead, hence it can go up or down basing on the next candlesticks Reasons/Traits : • 20 EMA crossing 50 EMA from below • Daily trend is at resistance/supply zone • Inverted head and shoulder formation can be seen (Chances of going up) • Descending Broadening Wedge pattern can...
NSE:MGL Safe levels To go long on Mahanagar Gas LTD ( MGL ) is still quite far it mas reverse from current levels as well but enter from safe levels is always good. ******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell....
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. Happy Trading! InvestPro India Team