Multi Year Breakout * After a long consolidations finally stock breakout from important resistance level 1250.00 and closing above .
MGL trade ideas
MGL Cmp 1227 dated 11.6.2021MGL Cmp 1227 dated 11.6.2021
2 Strong pattern on charts.
1. Ascending triangle Pattern breakout above
1237.
2. Inverted H&S pattern breakout already done
@ 1220.
Buy for a tgt of 1260 - 1300 - 1380 -1420 SL 1170
It is just a view, pls trade at your own risk.
Long Term Breakout MACD crossover RSI showing strength
In Medium term stock can do good
Keep SL 1202 TGT 1376/1400+
Do your study & keep on radar
Flag patternIf breakout the flag pattern we should see the biggest move in upside.
The stoch is flowing In the consolidation from many days, after that it is created a FLAG PATTERN.
The stock should by for short term period with the target of 1260 where small stoploss is 1260.
MGL: Consider Buying On dips or on weekly close above 1260MGL
- The stock has short term support at 1180 / 1120 levels
- 1260 is a major hurdle
if MGL manages to close above 1260 on a weekly closing basis, it might signal a breakout and the stock may head towards 1480 / 1720
Pls note, I do have a bias in this stock
(this is my earlier post)
The stock has moved exactly as forecasted in the idea above. Hence you could understand my bias view, so do your own research before taking any decision.
Take care & safe trading...!!!
MGLNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
Weekly Major Resistance Breakout - Long Term TradeThe stock is formning rounding patterns on the weekly time frame and is expected to give a breakout. This could turn out to be a long term trade
Can go long on MGLCan go long on MGL above 1243 for the targets of next resistance trend line. Short term trading.
MGLKnocking at previous high, MGL looks extremely lucrative at current level. stoploss is 6% while reward is target of 1500 - 1640 (max 34%).
MAHANAGAR GAS Ltd. Trading SetupNear its multi year resistance level. A breakout above these levels can be a good buying opportunity.
POSSIBLE BREAKOUTWe can see a good build up at the resistance level which can be a sign for a future breakout, let's watch this stock
MGL Positive Breakout with Increasing in Volume <3 Entry Should Be Above Breakout Level.
Buy, Stop loss, Target Mentioned On The Chart.
(P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.)
If You Like Do Not Forget To Like
Thank You
MGL - Resistance Breakout View - RiskyMGL : (Risky but worth the risk)
Can Breakout, should sustain
Long above 1236 with a SL 1215
MGL - buy on dipsBuy from 1165 to 1152
easy target 1200
tg2 - 1230
Disclaimer : This is my personal analysis for study purpose not intended for trading
