MGL perfectly respecting decending channel pattern and support level. 38 percentage correction already done. Do watch for potential break out.
Counter is trading around good support zone,, let see if demand zone is respected or not
Buy mahanagar gas near 825 with stop loss 770 for 25 % gain with a month
Short term to midterm analysis based on demand and supply price action.
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....
As per the daily chart the previous gap up zone of 950 to 975 expected to act as support Can go long on all dips till 980 with SL @ 900 Daily closing basis Do your own analysis before investing
MGL has been forming higher highs and has been taking support on the trendline. And now again it is back to its trendline and formed a reversal bar on the weekly timeframe. The target would be 20% from the cmp.
Short MGL near Retest of Trendline 1100-1140 Zone Stoploss 1200 Target 970 Trendline Breakdown + Lower High and Lower low formation started on daily Timeframe. Previous Higher low Broken
MGL looking for a good buy @ 1010 or below the price for upper marked targets on the chart until 970 is intact on the closing basis. To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
My personal view on MGL. After a good rally mgl shows a consolidation in weekly time frame. Breakout or breakdown can show good move either side. Note - Naturalgas price is soaring. NSE:MGL
BUY MGL ABOVE 1200 TARGETS 1280, 1320++ SL BELOW 1100 ON CLOSING BASIS Disclaimer: All Charts are for educational purpose. Please consult your financial advisor before investing.
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 chart analysis for intraday and swing trading other info given on chart
Can be a good intraday candidate for next trading session... can trade based on the movement
MGL - 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...
Downward Channel Broken Volume supported Break RSI > 60 Upper Bollinger Band broken need to wait for momentum in ADX and price completely close outside of Upper Bolinger Band
MGL under bullish wolfe wave can test 1180 view negated below 1090 daily close Thanks Jigar pateel 8898030401