In the daily chart, we can clearly see that MGL has formed a cup and handle pattern and ready to break that pattern. My target will be 1150. Take long positions guys, we will definitely achieve our target.
Trendline and the specially designed volume action analysis suggest a BULLISH run on the MGL.
The background with light green color are indication for bulls taking the position and the Light red background suggest Bears are dominating in the region.
This is my NEXT week analysis on MGL support line are there with good volume supporting the bullish view.
will...
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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A breakout has happened. Now wait till it retest the breakout level and move higher...........
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for...
ALL THE LEVELS ARE MARKED ON CHART;
PRICE IS STRUGGLING TO BREAK DAILY 20 EMA,
PRICE HAS INCREASED ON ACCOUNT OF HIGH VOLUME, AND ITS SUSTAINING/CONSOLIDATING ON ACCOUNT LOW VOLUME.
The indicator used:
1) Daily Lines plots Daily 20 EMA on lower time frame charts
2) TE REKAB shows reversals in the market
PB stands for - PULL BACK.
If you like the analysis, do...
Continously trading in a small range is an indication of a breakout. A BIG BREAKOUT...........
Buy above 850.55
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a...
MGL has been taking support between the prices 743 and 766.
The price range between 743 and 766 has been acting a major support
for MGL , The price is again at its support level.
So will be looking at going long on MGL.
Entry : 778
Target : 957/1094/1200
Stop loss : 665
