MGL trade ideas
MGL H&S Pattern in dailyMGL still getting struggle to move up one point need to focus . In the day chart MGL try to record on H&S pattern also one important point is 972 to 955 zone still now gap is ther my view the stock to try to fill the gap and came to 0.618 level which is around 920..
MGL continue its bullish rally towards the target 1197+ After the breakout of the ascending triangle pattern in this stock, we have seen correction up to the breakout level which is acting as support. Can go long if sustain above 1130 for 1197+ target in upcoming trading sessions.
MGL - Trendline ObservationsTrendline Observation(s). A simple trendline breakout on Hourly Chart of MGL. BUY 1048.10. Sold off from 1147.35 and 1146. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
MGL chart structureMGL chart indicates the important trend-line.
There were two ocassions when the trendline was crossed over, once on the upside and once on the down side. On both occasions the moves were pretty decisive.
Now, MGL is back at that trend-line and this time from the down side which means it's a possible resistance.
Keep this on radar and trade the direction.
Please like and follow.
NSE:MGL
wait till 1100 then long mgl strong company to holdmany reason to buy mgl
1.top gas company of india
2.supporting trendline 1100 level
3.1100 will be 0.618 fibo level from last swing low
4.1100 was last resistance now it became strong support
5. 50 moving average support at 1100
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MGL for strong upsideMGl has broken above the long term bearish trend line with strong volume. with this stock has made a short term rounding bottom where neckline lies around 948.
stock has the higher chances to reach 1237 above 1083 in short term.
i.e buy above 1083 TGT 1237 , SL 920
MGL Long...Above 1115
Target 1213-1262-1295
Support at 940
above all important moving average
good volumes from last few sessions
MGL - 50% upside - Wave 3 of 3MGL is in the sweetest spot any financial instrument can ever be, Wave 3 of 3.
Get ready for explosive upside, stay invested
CUP AND HANDLE, SWING TRADE, MGLAfter bottoming out due to correction mgl is ready for next bull run. keep a good SL to avoid Stoploss hunting that may come due to upcoming nifty correction.
Even in this pattern we can a flag also.
MGL - Good positional / Intraday Trade 1. MGL is again testing it's resistance Zone of 1085-1090
2. Inverted H&S in daily time frame.
3. Good Volumes have come up.
4. RSI is getting stronger.
MGL- BREAKOUT AND RETESTThe whole gas distribution companies are starting a bull run. So either MGL or IGL, hope everybody can make a lot of money with them
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
Buy MGL
Buy MGL above 1086 Stoploss 1055 Target 1108 and above
Study: Formed inverse Head & Shoulder pattern and now stock is consolidating after breakout..
