Question on MGLIn ST stock has given a breakout of a triangle.
Staying above 1020 some trending moves may come.
MGL trade ideas
MGL - Intraday ViewMGL :
Symmetric triangle in progress
Intraday Looks good for breakout
Long above 1023 with SL 1017
MGL Previous gap up zone 950 to 975 expected to act as supportAs per the daily chart the previous gap up zone of 950 to 975 expected to act as support
Can go long on all dips till 980 with SL @ 900 Daily closing basis
Do your own analysis before investing
MGL- alt shark - weeklycan reach 1040-1085-1120
negation below candle closing below 960
Educational purpose only.
This is not a recommendation -
I am not SEBI registered - Do not TRADE/INVEST basis what I publish here.
Inspired by - Trading Mirror telugu
At 0.618 & Weekly 200ema Support
At 0.618 fib level support
200ema weekly support
Previous support was broken
now expect an accumulation in this level & then a gradual upmove
MGL longMGL has been forming higher highs and has been taking support on the trendline. And now again it is back to its trendline and formed a reversal bar on the weekly timeframe. The target would be 20% from the cmp.
[ INTRADAY ] MGL LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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MglMgl correct 25 % from its top , pin bar candel form at weekly trendline , we can initiate trade if mgl trade above last week high
Short MGL Short MGL near Retest of Trendline 1100-1140 Zone Stoploss 1200 Target 970
Trendline Breakdown + Lower High and Lower low formation started on daily Timeframe.
Previous Higher low Broken
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
MGLon very good support level
we can see more upside levels in future in it
Not any recommendation
thank you ..!
Buy_MGL at CMP - Target 1210 - 1290 - ATHThe stock has taken a support at it's 400 days EMA. RSI has given an indication of trend reversal and MACD is also bound show a crossover shortly! Keep an eye on this script :)
Swing MGLClrealy taking support from 1050 with the BULLISH RSI divergence signifies it is gaining strength ...can go for small targets !!!
trade with : parallel channel - simple trendline support MGL: 1059
trade setup:
1. buy up to 1042
2. keep stop loss as 985 on closing basis
3. targets :
1114 /1149 /
1191 /1223 /1267+
technical setup:
1.parallel channel pattern
2.support
3.trendline
4.value in sector
MGL 1d chart analysisMy personal view on MGL.
After a good rally mgl shows a consolidation in weekly time frame.
Breakout or breakdown can show good move either side.
Note - Naturalgas price is soaring. NSE:MGL
BUY MGLBUY MGL ABOVE 1200
TARGETS 1280, 1320++
SL BELOW 1100 ON CLOSING BASIS
Disclaimer: All Charts are for educational purpose. Please consult your financial advisor before investing.
Buy MGLBuy MGL Above 1100
SL- 1050
TG- 1150/1200/1250
Time span - 1 Month
Follow me for more updates
IS MGL GOING TO HOLD THIS SUPPORT?MGL took support from this zone again and If the support zone doesn't break MGL may touch the upper yellow line in upcoming Trading sessions.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
MGL- Short term trade - LONGBuy MGL within price range of 1060 to 1080.
1st Target price - 1150
2nd target price -1200
Stoploss - 1000
Timeframe - 2 to 3 months
Natural Gas prices are going to revise soon in OCT. Already roaring sky high. so this trade has good risk reward ratio of around 1:2
Purely technical and trend analysis. Only for educational purpose.
MGL - on trendlineCan be a good intraday candidate for next trading session... can trade based on the movement
