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Mahanagargas

Gas Sector Gathers Steam: IGL & MGL's Future Open Interest JumpsIGL ● 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 interest of about 25%, indicating that investors are eager to purchase at more favorable price levels. MGL ● After encountering resistance around the ₹1550 level, the stock price dropped to ₹1200. ● From this support level, it made a strong recovery, breaking through resistance to achieve an all-time high close to ₹1990. ● However, selling pressure has led to a pullback to the previous breakout level. ● Like IGL, MGL has also experienced a significant rise in future open interest of approximately 16%. ● This trend suggests that investors are interested in accumulating shares at a lower price.
NSE:IGLLong
by GoodluckCapital
Fundamental call - Accumulate on dipsNot 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 year to complete but the potential for profits is very high. Hence MGL can reach target of 1500 to 2200 in 3 years. Accumulate on dips. It's currently near its long time resistance a breakout and sustain above resistance can take this share flying or retracement. No stop loss
NSE:MGLLong
by Sandeepk31
2
Mahanagar Gas Ltd.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 mentioned on the chart are for educational purpose. Consult your financial advisor before making any investment decision.
NSE:MGLLong
by raigvivek
1
IGL: On the verge of breaking outIGL - 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 trading...!!! Like and share if you find the analysis helpful Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:IGLLong
by indiamarketoutlook
Channel Breakout in Mahanagara Gas LtdFrom 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 spike in volume we can expect a good rally in upcoming days. Stop loss can be placed at 800 for risk takers and 830 for risk averse. All possible targets are marked on the chart. This is not an recommendation. Do your own analysis before investing. NSE:MGL
NSE:MGLLong
by KaravaliTradingZone_Official
2
MGL is at a crucial point with multiple signs of movementMGL 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 also be seen (Chances of going up/can be failure) • Last two daily candle stocks shows Dark Cloud Cover Pattern (Chances of going down) • Volume is constant, ADX is below 25 (weak trend) and RSI is ascending and currently at 60 • Last daily candle retraced till 0.236 fib levels, if in uptrend, this retracement can lead to a sharp up move What can happen next : Scenario 1 : Above 1200 can go up to 1285 levels with a retest of the 1200 supply zone levels Scenario 2 : Below 1200 can retest 0.236/0.5/0.618 fib levels and can go till the supply zone of 1080 In both the scenarios, a retest is required at supply zone to follow respective trend. Let’s see.. Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
NSE:MGL
by AdhigamaTrading
9
Look how bearish divergence from yesterday worked today in MGLNSE: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 the sell side from the given level, but it worked on the technical analysis. Some might have short it from the higher level or top. Some might have been trapped in the bull trap. Always trade on levels. It will be always a safe trade. Avoid Trade tomorrow in MGL. If you have any doubts/comments, do comments below.
NSE:MGLShort
by Trading_hawk