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MGL

MGL: Step on the Gas .!MGL has been a star performer and has been fueling some strong upside for the past few weeks. The charts have been steadily forming higher lows indicating possibility of heading higher. The last few days the pullbacks in this counter have been witnessing some buying interest. Yesterday the robust Q2 numbers brought in some cheer and the strong run up clearly highlighted that the positive news produced a strong surge. The prices right now are curbed by the confluence around the 78.6% Fibonacci resistance and the median line. This zone was surpassed during the day but has closed below it. The trends continue to blow positively for this counter as can be seen from the momentum readings. With the RSI continuing to revive from the Neutral Zone we could be looking at this counter from a positive frame of mind. Overall setup indicates potential to move higher hence one can look to buy above 1010 with a stop below 980 for a rise towards 1090. Idea Sourced From NeoTrader trade.chartadvise.com
NSE:MGLLong
by Raja_Chart_Advise
1
MGL - Long for 1200MGL should continue its journey to the upward, as the correction in completed Entry : 990 <=> 975 Range Stoploss : 3% (Closing Basis) Basic Target: 1200 if you have any queries regarding above idea or any other stock feel free to D'M Recently,We launched TruStox Community , A community driven platform for Traders with almost all features that a trader needs. Here are some of them:- Regular Study Conferences Collective Fundamental Research Access to Tools from Trader's Toolkit & many more. For More information : Click Here! Note : Trading in any financial market is very risky. We post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
NSE:MGLLong
by TruStox
MGL: Slowly & steadily winning the race...!!!MGL CMP 967 If you have been following us and seeing our coverage on MGL, we have been in it since 860 odd levels... Link to our previous post Nothing spectacular here so far but the ride has been smooth and easy without panic attacks to say the least and importantly The stock has done a 10% + movement achieving T1 & T2 quite comfortably. (It is like watching Micheal Bevan of Australian cricket team if you remember, not scoring much in boundaries and sixes but still ends up scoring 50-60 runs at a very good strike rate mostly from ones and twos. And that's what made him very reliable and very effective.) Coming back to the stock, Going forward, 977-987 is an important zone for MGL. Keep a close eye. Above that zone and there can be a quick movement to 1020-1034 levels initially and then possibly even to 1066 levels. Those who are holding can trail SL to 928 on closing basis. For those looking to take a fresh position wait for the stock to cross the resistance zone or look to buy on dips Never miss a chance. You can get regular updates from us. Just HIT the LIKE button and FOLLOW US For any stock specific queries you can message us. It may take a day or 2 to reply but we will surely address it. Best regards Take care & happy trading...!!!
NSE:MGLLong
by indiamarketoutlook
MGL Showing signs of strength MGL CMP 905 In our previous post we had recommended MGL for a buy around 860 for target of 920 and it worked to perfection to the point making a high of 919 Looking at the charts again we observe - price action holding on to the gap zone between 902-868 - 20 day EMA crossover above 50 day EMA in late November- early December 2018 - thereafter re-test first at 50 day EMA and now we see price holding above 20 day EMA on 2 occasions Given the set up one may consider to buy at cmp and on dips towards 888 for target of 933 / 965 / 1034 levels SL if closing below 865 In case u LIKE the idea and find the analysis helpful do HIT the LIKE button and FOLLOW to get regular updates from us. Take care & safe trading...!!! -------------------------------------------------------------------------------------------------------------------------------------------------------------------
NSE:MGLLong
by indiamarketoutlook