MGL - Mahanagar Gas Ltd looks good for move up Stock forming a classic bullish pattr and is all set for pattern continuation ,break above the trend line should trigger a good smooth move up
MGL trade ideas
MGL on breakout !Mahanagar Gas Limited has broken out from its recent swing high.
Immediate target for the same is marked in the dashed line, Also if anyone wants to keep it positionally, targets are marked on the chart.
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Falling wedge pattern reversal in MAHANAGAR GAS LTDMAHANAGAR GAS LTD
Key highlights: 💡⚡
📈On 1Day Time Frame Stock Showing Reversal of Falling wedge Pattern .
📈 It can give movement upto the Reversal Final target of above 1065+.
📈There have chances of breakout of Resistance level too.
📈 After breakout of Resistance level this stock can gives strong upside rally upto above 1145+.
Positional SELLScrip is breaking Daily Support which is also a Neckline.
Below Neckline we can see Breakout Failure.
This can lead momentum till next Demand Zone 920 level.
We can carry positional easily for next 2-3 Weeks.
Bullish view on MGL MGL bullish above 1030
SL 998
Target 1190+
Disclaimer - This is not a buy and sell tip,it's only for educational purpose analysis
We are not responsible for P& L
triangle breakout in MGLMGL has given symmetrical triangle breakout can consider buy 920-925 for target of 1048,1180
with stoploss of 867 for swing trade
MGLMGL:- If the stock breakouts from the trendline, it can show an upside moment. Keep an eye on the stock.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
A perfect retest in MGL on trendline- Shake off before a rallyA perfect retest in MGL on trendline. This is a kind of shake off before a rally.
Retail investors must have sold and got out till now.
MGL - Long Setup, Move is ON..NSE:MGL
✅ #MGL trading above Resistance of 1075
✅ Next Resistance is at 1241
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
intraday midcap stocks are going to boom
there is possibility for big move
instead of intraday its better to go for 3 to 4 days of holding
with proper risk management
watch MGL for massive for 1 day move in coming weekNSE:MGL #MGL has become sideways at previous high level/previous resistance on daily timeframe and it is trading in the same range in which it was stuck before crashing massively,
if MGL crosses 1030 level or opens above it, we might see a sudden rise of 5%+ move in a single day ,
ih it goes below 1000 again, we might see downside move again, watch both levels closely for breakout
MGL Swing TradeExcellent breakout of resistance zone.
Price is getting accepted above resistance zone. Making Flag Pattern.
Entry above Breakout candle - 1000
Stop below Breakout candle - 915
Target All Time High(1200) and more.
Mahanagar Gas may go further up till 1060 SL 980As per Harmonic PRZ pattern, Mahanagar Gas may go further up till 1060 Stop loss 980 within a week time
MGL Rising wedgeMGL has given a good breakout above 930 two weeks back, however post breakout follow through is missing and price has started showing weakness due to absence of any follow through, and is facing resistance in 50 to 61.8% fibo pullback zone from June 21 high to June 22 low.
Chart is also showing a rising wedge formation on weekly timeframe, and current weekly candle has closed below the doji of previous week's low which is also a sign of bears taking control of this after the breakout.
If the price start sustaining below and even breaks down support trendline then it can even correct upto 850 and below levels.
#MGL Analysis Stock is near to complete round bottom pattern and its BO, watch out entry level and target.
MGL : Positional Call👉 #MGL : Weekly Chart
📌 Positional call : (3-6 Months)
>> Ascending Triangle Breakout with Volumes
>> Buy @cmp or near Supply zone if it Retraces
>> Good Strength & Volumes in Stock
Like , Share & follow for more such Analysis
Keep Learning & Keep Growing
MAHANAGAR GAS--BULLISH~All the information given in the chart is for the educational purpose only.
~Do your own research before investing.
~This is not my recommendation.
~My recommendation--LEARN MORE EARN MORE.
intraday
both side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
