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
looking strong above -1185 for the targets of 1199 and 1214, with sl -1175 Weak below 1165 , targets - 1151, 1136 , sl -1174 Null and void if opens big gap up or gap down.
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...
Please check the chart for correct levels.
In 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.
Buy At Cmp 1107 Strict SL - 1010 (Weekly Closing Basis) Target - 1450
BUY AT CMP 1131, STRICT SL - 1056 (DCB), TARGET - 1500
H & S formation on hourly frame and bullish above 1100 level. All levels are marked.
Please see the chart for trading view.
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...
Follow for latest updates Buy @ 1010 Targets- 1016, 1020
Let it break with Good Volume!! Above 1100, Looks Bullish! 15-30 points can be made through Intraday Trade.