ALL THE LEVELS ARE MARKED ON CHART; FALLING WEDGE PATTERN IN HIGHER TIMEFRAME.
SELL NEAR THE RED ZONE IF REVERSAL CANDLES ARE FORMED ON THE ZONE/ NEARBY THE ZONE
MIGHT GET SOME SUPPORT FROM 50 DAILY EMA OR THE GREEN ZONE(1275-1285) AND COME BACK INTO THE CHANNEL.
The indicator used:
1) Daily Lines plots Daily 20 & 50 EMA on lower time frame charts
2) TE REKAB...
MGL BUY ABOVE 845
TARGETS: 854, 863, 870, 875, 879, 884
Posting for Educational purpose only
Closing Basis means stock need to trade above 845 between 3:20 ~ 3.30 PM
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Hi guys this is Trader Kanishk
Points discussed :
Why to go long
has it taken support
new support levels
new stoploss levels
entry levels for sharp entry
and many more.
Watch the entire video and
GO for It
Every thing i have discussed in this video is only for educational purpose, do not consider...
Note: This is for educational purpose only.
There is a bearish breakout from wedge pattern as well as lower support level. This is supported by high volume. RSI is below 40 which adds to the bearish momentum.
Technical Trade - MGL reclaimed 50dma and 200 dma recently and since then it has been well. Currently, the price is around 61.8 retracement and today close looks constructive. Nifty is down 200 points but MGL has closed strong with 233% above average volume. If the price continues to move up with good volume, i will enter between 1058-1065