MGL trade ideas
MahaNagar GasView:- Bullish
Target:- 1113.75-1186-1288
Stoploss:- 1050-1070
#SwingTrading
@caparas_gangwal
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...!!!
MGL viewMGL
Cmp 1124
The stock has given a breakout above 1119
The stock can head towards 1180 / 1220 levels in short term
Take care & safe trading...!!!
MGLMGL given a breakout from Ascending patterns.
Target 1060/1080 and more
In volatile market, lets work with small Sl of close below 996
Descending triangle - Mahanagar Gas LtdMahanagar Gas Ltd has broken descending triangle pattern, so one can short MGL for target of 930, 920, 900. SL 955.
