MGL trade ideas
MGL Positional
Buy near 900 for the tgt of 960/990/1020/1060/1100/1180
Disclaimer : Ideas for learning only.
MGL - end to bull run or read for next run?STOCK IS FEELING THE HEAT OF CRUCIAL RESISTANCE. RSI DIVERGENCE ALSO CAN BE SEEN COMPARED TO PRICE. STRONG VOLATILITY WILL BE SEEN IN COMING DAYS
MGLTrendline and the specially designed volume action analysis suggest a BULLISH run on the MGL.
The background with light green color are indication for bulls taking the position and the Light red background suggest Bears are dominating in the region.
This is my NEXT week analysis on MGL support line are there with good volume supporting the bullish view.
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**DISCLAIMER
There is a very high degree of risk involved in trading. Past results are not indicative of future returns. I assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice.
Inverse Head and Shoulder Pattern in MGL for target of 920+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 of right shoulder bottom at 810. This trade can give good risk-reward as 1:3+ from entry-level.
Possible Trade:
Buy MGL at 840-845
Stop-loss 810
Target 920+
Disclaimer: Before taking any position take advise from your financial adviser. Also, Don't enter any trade without risk management.
#MGL CASH : GOOD ABOVE 915.10#MGL CASH
19.11.2020
LOOKS GOOD ABOVE 915.10 AND DIPS 908-910
SL 904
TGT 924-925/944-945/960
CMP 905
Long ( Next 40 % Potential Move ) One can wait for daily Green Candle and Look to enter for Next move up
its in corrective pattern so expect price to move slow in this structure
You can buy in cash and Hold it for Next 40 % move in the price ,
Invest INR 10, 000 and Book 4000.00 profit on investment in 1 Month time frame
Good luck
Watchout for Resistance breakoutThe stock is approaching it's strong resistance and looks good above 874.5 level
MGL POSITIONAL BUY ABOVE 845MGL BUY ABOVE 845
TARGETS: 854, 863, 870, 875, 879, 884
Posting for Educational purpose only
Closing Basis means stock need to trade above 845 between 3:20 ~ 3.30 PM
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triangle pattern formation Trade setup for 13/11/2020Enter after proper breakout
Always trade with stop loss
dont trade against trend
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Buy MGLBuy MGL if it hold 850 zone the it can go upto 875 and 890 Stoploss 833
Safe buy above 854
Small cup & handle formation is visible
