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
MGL trade ideas
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
intradayboth 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
MGL BULLISHMgl looks good bullish on weekly chart after breaking a down trend line resistance of triangle and close above on weekly basis so we can expect a target of 1000 in it in coming days from here.
[Intraday] MGL Buy IdeaNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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Mahanagar Gas LtdMGL is moving in broad range. Monthly price is above 50 EMA. In weekly and Daily time frame price is in momentum. Hence buy on dips is ideal strategy.
Weekly MACD positive crossover stat.
Weekly RSI is in momentum
Daily RSI is in momentum
#Educational#Gas&Petroleum#MGL-LongBreakout stock with volumes.
Expected targets would be 1100/1150.
A successful Breakout Seen in MGLIn the case of MGL stock, if there is a confirmed breakout from the ascending triangle pattern, it could indicate that there is a strong likelihood of further upward momentum in the stock. However, it is important to note that technical analysis is just one tool in the decision-making process for investing in stocks, and it should always be combined with fundamental analysis and a thorough understanding of the company's financial health and industry trends. Additionally, it is important to manage risk by setting appropriate stop-loss levels and position sizes.
