MGL- BUY (SWING TRADING)MGL-BUY swing trading technically good level at buying.
fundamentally strong company in ongc and power sectors.
Mglbuy
MGL Flag and Pole pattern We can see MGL 1500 in upcoming days as per my analysis .
at least this share can make a new high ..cheers.!
MGL : Positional Call👉 #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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MGL LONG-TERM SWING TRADEHello, mgl long-term swing trade buy: 800 targets: 854/963/1,075 stoploss: 837.
LOGIC BEHIND TRADE: Stock has formed W pattern on 1D chart & given breakout of dynamic trendline resistance & static resistance breakout buying strategy, (targets identified from harmonic xabcd/abcd pattern level 2.0/1.618/2.272) stoploss is taken previous swing low. Stock looks soild for long-term swing trading. NSE:MGL
BUY MGL 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
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.
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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.
MGL is on perfect spot for long side1) 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
Wait for Signal in MGL ! Entry as per marked levelsAll important zones marked on chart very clearly, you can easily identify the support and resistance levels of MGL it faced over the time period.
My personal view is for upside breakout but will wait for the confirmation as markets moves with setup and price action not on our thinking and mindset.
So even I am expecting MGL to move upside till 1230-1250 before this month expiry if overall market supports but still I will rely on the price action and strictly follows the same and enter only if it moves in either direction and giving us the breakout of one of the trendlines.
This is my personal view and might doesn't work for you or even for me therefore consult and review before entering taking any trade and also glad to hear your view for this setup or anything which i missed out in the setup.
Trade Wisely!
MGL "INVERTED HEAD & SHOULDER" BREAKOUTBuy At Cmp 1107
Strict SL - 1010 (Weekly Closing Basis)
Target - 1450
MGL is waiting for Breakout(Add in watch list)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
