MGL LONG VIEW
Beautiful chart pattern forming rounding bottom. Formed triangle and retraced back successfully . Now expecting a good move after 900.
tgt - 964 - 1024 - 1260 with short to medium term view.
No recommendation. Just view.
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...
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
MGL have formed upper channel on daily charts which is indicating a positive movement and stock today turned from lower trend line, results are tomorrow one can trade for short term returns
NSE:MGL
I have posted this in my earlier post for MGL.
BearishDivergence.
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...
NSE:MGL
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...
looking strong above -1185 for the targets of 1199 and 1214, with sl -1175
Weak below 1165 , targets - 1151, 1136 , sl -1174
Null and void if opens big gap up or gap down.
