Just follow the Price Action!1080 is a major demand zone and stock has taken support there and showing signs of reversal upto 1200 from current leves.
MGL trade ideas
mgl - sell on risesell from 1150 to 1163
easy target 1090
Disclaimer : This is my personal analysis for study purpose not intended for trading
MGLDownward Channel Broken
Volume supported Break
RSI > 60
Upper Bollinger Band broken
need to wait for momentum in ADX and price completely close outside of Upper Bolinger Band
MGL under bullish wolfe wave MGL under bullish wolfe wave can test 1180 view negated below 1090 daily close
Thanks
Jigar pateel
8898030401
BREAKOUT MGL 1200Monthly resistance break,
It will give a strong move if it breaks the Resistance of 1200.
Simple Trade Setup| MGL | 30-08-2021NSE:MGL
Observation:
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.
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Trade Setup for Date 30-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Mahanagar Gas Ltd - Kick out the bears.NSE:MGL is ready to shoot the bulls in the ring.
NSE:MGL had been making lower highs and lower lows ( LHLL ) while framing a falling wedge pattern ( T1 & T2 ). Inside the wedge, it has broken a trendline T3 that pushes up the confidence of the bulls to create the long positions.
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mgl -sellsell from 1129 to 1140
easy target 1070
Disclaimer : This is my personal analysis for study purpose not intended for trading
Mgl took good channel supportMGL can give good move above above 1152 ..taking good support from trendline and trading withing channel
mgl trend line breakoutmake your own decision
there is a trendline breakout on daily chart
in mgl
decide your own targets
targets up to 1300
Parallel Channel break above 1200Parallel Channel break above 1200 in MGL
Buy MGL : 1185
Stoploss : 1065
Target 1 : 1302
MGL - Trendline ObservationsTrendline Observation(s). A simple Trendline Breakout on Hourly Chart of MAHANAGAR GAS LIMITED. BUY 1190.10 -> 1210, 1225, 1235. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
MGL - 1D TF - Inverse Head & ShouldersInverse Head & Shoulders pattern forming on Daily Chart of MGL. BUY 1100, SL 979.9, Target (s) - 1150, 1170, 1195, 1215, 1230. Head-Neckline = 320.5. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
MGL: If stock closes today above 1178, Target it for 1258.Hello Traders,
MGL, if closes above its daily average of 1178, then I would enter it for target of 1258. Target can be for 20 trading sessions approx.
Happy Trading!
PS: Do not forget to follow SL as per chart.
mahanagar gasregulatory entry barriers are present presently losing out to adani total gas and indrprastha gas but has potential to reach 1750
believers in the fundamentals can buy it now otherwise wait for a break of 1250
