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MGL

MGL: At lower end of the channelMGL - The stock is currently trading at lower end of the blue channel - important support levels on the downside 1081 / 1060 / 1030 - if the channel is withheld, potential target for the current set up could be 1195 / 1240 / and if sustaining above 1265 then doors would open up for 1485 - pattern gets invalidated if closes below the red line on daily charts Take care & safe trading...!!!! 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:MGLLong
by indiamarketoutlook
Simple Trade Setup| MGL | 30-08-2021NSE:MGL Observation: 1) On Daily time frame It took perfect reversal from 200DMA with good green candle. Now next hurdle for this stock will be 1140-1150 critical zone. On breakout of this range it will be good bullish till 1200 level. 1200 is another major resistance. Please refer below chart : daily time frame. ------------------------------------ Trade Setup for Date 30-08-2021: 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:MGL
by Trading_hawk
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
MGL looks promising to sell below 1182NSE: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 looks promising to sell below 1182. Target level are marked in Green line. But don't forget to keep stop loss at 1190 level.
NSE:MGL
by Trading_hawk
MGL: Consider Buying On dips or on weekly close above 1260MGL - The stock has short term support at 1180 / 1120 levels - 1260 is a major hurdle if MGL manages to close above 1260 on a weekly closing basis, it might signal a breakout and the stock may head towards 1480 / 1720 Pls note, I do have a bias in this stock (this is my earlier post) The stock has moved exactly as forecasted in the idea above. Hence you could understand my bias view, so do your own research before taking any decision. Take care & safe trading...!!!
NSE:MGL
by indiamarketoutlook
MGLNote: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions... 4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks... Keep an eye ladies and gentlemen. Cheers and Happy Trading
NSE:MGLLong
by SENSITRADE_T