MGLThe stock appears to be reversing from the Fibonacci retracement levels, in the aligning with the 200 EMA and 200 DMA on the weekly timeframe.
Mgllevel
MGL- BUY (SWING TRADING)MGL-BUY swing trading technically good level at buying.
fundamentally strong company in ongc and power sectors.
Look how bearish divergence from yesterday worked today in MGLNSE:MGL
I have posted this in my earlier post for MGL.
BearishDivergence.
Hope you were on the right side today. (14-07-2021)
In starting of today it was a bull trap.
It is always to remember that never chase a long upside or long downside move in stock at the beginning of trade. 85% chances are there that it will reverse.
Though the target was small on the sell side from the given level, but it worked on the technical analysis.
Some might have short it from the higher level or top.
Some might have been trapped in the bull trap.
Always trade on levels. It will be always a safe trade. Avoid Trade tomorrow in MGL.
If you have any doubts/comments, do comments below.
