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Mahanagar Gas Ltd

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MGL trade ideas

Short term Swing trading-MGL-ShortMahanagar Gas Limited (MGL) looks bearish for short term. Sell Below: 775 for targets - T1: 736 T2: 721 T3: 705 SL: 813.8 Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
NSE:MGLShort
by MuthiahM
Morning starMorning Star The Morning Star Pattern is viewed as a bullish reversal pattern, usually occuring at the bottom of a downtrend. The pattern consists of three candlesticks: morning star candlestick chart pattern Large Bearish Candle (Day 1) Small Bullish or Bearish Candle (Day 2) Large Bullish Candle (Day 3) The first part of a Morning Star reversal pattern is a large bearish red candle. On the first day, bears are definitely in charge, usually making new lows. The second day begins with a bearish gap down. It is clear from the opening of Day 2 that bears are in control. However, bears do not push prices much lower. The candlestick on Day 2 is quite small and can be bullish, bearish, or neutral (i.e. Doji). Generally speaking, a bullish candle on Day 2 is viewed as a stronger sign of an impending reversal. But it is Day 3 that holds the most significance. Day 3 begins with a bullish gap up, and bulls are able to press prices even further upward, often eliminating the losses seen on Day 1.
NSE:MGLEducation
by nalinakshi
Mahanagar Gas Ltd: Out of Gas.. will it refill gas at support???Mahanagar Gas Ltd CMP 1094 Last time we covered the stock at 1120 levels for target of 1220 Link to previous post It over exceeded our target and went to 1345 level... However the stock went out of gas there and fell straight from 1345 to 1060 odd levels... which provides good support. Since listing it's also the first time when the stock has corrected by such a huge margin ( by its standards ) MGL to refill it's energy here... FULL TANK PLEASE...and push up again... Good from long term investment point of view too purely because of - Strong fundamental & strong business model... (25 years of business exclusivity where ever they win bids. Mumbai region will end in 2020 ... Thane region in 2030 and Raigad district in 2040... However All exclusivity terms extendable in blocks of 10 years...& All future expansions in other regions are expected to be in similar lines of exclusivity rights) - key risk they have to win it though tenders and bids - Strong promoters - Good Management - Good Dividend payout history by Management The stock can be looked at current levels and on dips towards 1080-1060 levels. That's the story from Fundamental point of view and we have looked at how the picture looks from Technical analysis point of view... and I am open for looking at the stock from my retirement planning... :-) Take care & happy investing...!!!
BSE:MGLLong
by indiamarketoutlook