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Mahanagar Gas LtdMahanagar Gas LtdMahanagar Gas Ltd

Mahanagar Gas Ltd

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MGL trade ideas

MGL // Levels // 4H"Welcome to SkyTradingZone " Hello Everyone 👋 MGL (Moving Averages) and Support/Resistance (S/R) are two fundamental concepts in technical analysis. Here's a brief overview of each: Moving Averages (MGL): A Moving Average (MA) is a trend-following indicator that smooths out price action by calculating the average price over a specified period. For Mahanagar Gas Ltd (MGL), currently trading around ₹1,842.351, here are the key levels to watch on a 4-hour timeframe: Support Level: Around ₹1,800 Resistance Level: Around ₹1,900
NSE:MGLLong
by SkyTradingZone
Keep in Radar Keep an eye into the stock It has formed a Symmetrical triangle and is on the verge of breakout. Historical chart tells us that the stock gave a good upside momentum of approx 32% after breakout of symmetrical triangle. If the stock gives a good daily breakout candle one can enter with stoploss below candle low. Breakdown will negate our view in the stock. Volume analysis shows that during consolidation volume has dried up. Keep Learning, Keep Trading. ⚠️Disclaimer: The views expressed here are merely personal opinions. Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. If you’d like more examples or have other questions, just ask—I’m here to help! 😊🚀
NSE:MGLLong
by thechartedtrader
Fundamental call - Accumulate on dipsNot a technical view but this call is based on fundamental work being done by MGL across Mumbai, Thane, kalyan and dombivili. MGL has invested heavily to setup gas pipelines across KDMC and TMC limits. These pipelines are being laid in very heavily populated areas and have lot of potentials to generate revenue as people subscribe to piped gas. This may take few year to complete but the potential for profits is very high. Hence MGL can reach target of 1500 to 2200 in 3 years. Accumulate on dips. It's currently near its long time resistance a breakout and sustain above resistance can take this share flying or retracement. No stop loss
NSE:MGLLong
by Sandeepk31
2
Amazing breakout on Weekly / Daily Timeframe - MGLCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED! NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!! #No complicated chart patterns #No big big indicators #No Excel sheet or number magics TRADE IDEA: WAIT FOR THE STOCK TO BREAKOUT IN LOWER TIMEFRAME AND RETRACE IF NEEDED. SL IS NEARER SUPPORT ZONE IN Daily TIMEFRAME. PS: No new Nifty500 script can escape from me when making a breakout. :-) PS: People who missed my first BO level, can re-consider this BO level when a proper candle close is seen in Daily TF.
NSE:MGLLong
by Yoyohoneysingh93