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.
InvestPro India Team
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. ...
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
All 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...