Mgllong
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 a perfect buy for short term as well as longtermIn the daily chart, MGL has generated a runaway gap. Short term target will be 1200 and it will go 1500 for sure in 5 to 6 months. Make long position guys, we will definitely achieve our target.
MGL "INVERTED HEAD & SHOULDER" BREAKOUTBuy At Cmp 1107
Strict SL - 1010 (Weekly Closing Basis)
Target - 1450
Inverse Head and Shoulder Pattern in MGL for target of 920+After downtrend in MGL in today's session, we got the breakout of the neckline of an inverse head and shoulder pattern with good buying volume. After some movement, we will see a small correction according to the pattern but it will continue its rally towards the 920+ target in next few trading session.
For trading, 840-845 is a good entry point with a stop loss of right shoulder bottom at 810. This trade can give good risk-reward as 1:3+ from entry-level.
Possible Trade:
Buy MGL at 840-845
Stop-loss 810
Target 920+
Disclaimer: Before taking any position take advise from your financial adviser. Also, Don't enter any trade without risk management.
MGL | BREAKOUT ABOVE 1100Let it break with Good Volume!!
Above 1100, Looks Bullish!
15-30 points can be made through Intraday Trade.
MGL IMPORTANT LEVELSBUY ABOVE 992 TGT 996/1000/1004
SELL BELOW 937 TGT 933/928/921
Disclaimer : Trade at your own risk
MGL - Analysis for positional holdA long position can be initiated with the following stop losses for various persona:
For ultra safe traderSL could be placed at 907, for a target of 980.
