👉 #MGL : Weekly Chart
📌 Positional call : (3-6 Months)
>> Ascending Triangle Breakout with Volumes
>> Buy @cmp or near Supply zone if it Retraces
>> Good Strength & Volumes in Stock
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NSE: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.
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1) Today's Closing is second highest closing ever, volumes are not super duper but highest after 26th of May.
2) RSI is in upside mood.
3) MGL is making rounding bottom(clearly in weekly chart)
4) Market Support
Monday Possibility 1) Rounding bottom breakout
2) Lifetime high breakout can not be neglected
In MGL daily chart once it close above 1100 it can achieve 1226-1331 range in quick time.
--> Let the breakout happen
--> 1023-976 is immediate support range
