MGL trade ideas
MGL : STOCK FOR INTRADAYHere comes another Stock for Day Trading for 17 Feb 2023. The Chart is breaking out Ascending Channel @ 920.85. In hourly Time frame, it is already showing price action at this level. Thus, signaling that we may have a new support @ 920.10. Thus, we may see a breakout with new targets as 975 and 1065. Entry Level is 933 not before that , with a small SL of 915.
Please Boost my study and motivate me, so that I can bring more ideas to you.
MGLMGL:- Rounding bottom pattern is formed, stock is about to give breakout after 1 and half year, if breakout occurs then we can see upside movement, till then keep your eye on 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.
MGLHi guys, In this chart i Drew My Best Levels in MGL for Short, Observed these Levels based on price action and Demand & Supply. Don't Take any trades based on this chart/Post...because this chart is for educational purpose only not for Buy or Sell Recommendation.. Thank Q
MGLIn Weekly chart of IGL, we can see multiple rejection at 900-910 level.
upward momentum is expected in coming weeks once it crosses the above level.
Enter with SL for a target of 1020-1040.
MGL CHART ANYLYSISMgl At Daily Time Frame Stuck on Resistance which is previously acted as Major Support
If 15Min Candle can Break This Resistance and Hold To Support Will See The Big Trend In Next Session,
swing trade for short termyou can enter in this trade or you can wait for retest . target 900
time frame : 30min
follow your risk management and RRR
Channel pattern breakdown in MGLMGL
Key highlights: 💡⚡
📊On 1h Time Frame Stock Showing Breakdown of channel Pattern .
📊 Strong bearish Candlestick Form on this timeframe.
📊It can give movement up to the Breakdown target of below 805-.
📊Can Go Long in this stock by placing a stop loss above 872+.
📊 breakdown this can give risk:reward upto 1:7+
MGL Breakout above 926Mahanagar gas is good for going long above 926 with a stop of 900 for the targets of 950/990
915-925 is a resistance zone on charts breakout of this zone will move the price higher .
MGL LONGMGL LONG VIEW
Beautiful chart pattern forming rounding bottom. Formed triangle and retraced back successfully . Now expecting a good move after 900.
tgt - 964 - 1024 - 1260 with short to medium term view.
No recommendation. Just view.
MGL Wedge pattern on Daily TimeframeMGL likely to trade in between this wedge pattern before breakout or breakdown.
Trend mostly indicate breakout but downward retracement is expected as per RSI
MGL weekly Inverted Head Shoulder- BuyMgl is making inverted head and shoulder on weekly chart. Price is closing on weekly Ema 52 with RSI positive divergence which indicates some short term strong bullish up moves. Fundamentally also good as PE and EPS.
MGL: Technical Analysis at it's best😀MGL
Day before yesterday when markets looked difficult, charts indicated that MGL is at Support and that odds are in favor of going Long...
In 2 days the stock has rocketed and even in an overall down market this stock is holding up firmly...
Note this is not any recommendation now. Just to showcase how technical analysis can improve our trading....!!!
The original idea despite being spot on... has no Likes 😒
Do Like, Follow and Share🙏🙏
MGL- Short Term :Bulls Counter attackMGL- Short Term :Bulls Counter attack , up trend as long as it sustains above 790 on closing basis. Potential targets - 910
MGL: Will previous Resistance act as Support?MGL
- The zone of 780-800 acted as resistance in the month of June and July
- it broke past its resistance in Aug and made a high of 925
- now it is back to 780-800 zone
On charts, Risk::Reward ratio looks favorable to go long
With a SL at 755 on closing basis, one may look to go long in the stock
Buy zone: 780-800
Time frame: Medium to long term perspective
Target 920 / 966 / 1030
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F&O strategy
Alternatively one may consider to sell 27 Oct expiry 750 Put option
The strategy has a profit potential of 10% - 11% and provides protection for a fall up to 734
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
MGL for positional trading Please note this is for education purpose only. Please do own research before you take a trade
MAHANAGAR GAS LTD DOUBLE BOTTOM BOMAHANAGAR GAS LTD
Chart Time Frame: WEEKLY
On Weekly Basis Time Frame the Stock has given a Good Breakout of Double Bottom Pattern with decent volumes on the Chart
So as per the Chart Stock looks Good for Long Position for Short to Medium as per the Levels given below:
CMP - 871.35 or BoD 850
Target 1 - 938
Target 2 - 1013
Target 3 - 1088 +
SL - 810
Holding Time Frame - Short to Medium Term
All charts posted here are only for EDUCATIONAL PURPOSE
Before entering into any Trade / Investment Position kindly consult your Financial Advisor
MGL FOR LONGTERM INVESTMENTHI TRADERS.,
1. overall MGL stock traded in sideways trend last 3 years ..,now MGL traded in bottom of the sideways zone (accumulation zone).,
2. usually big players accumulate stocks at zone areas.., once done that accumulation it will start trending
3. its for long term investment
buy at current market price target of 1250
stop below 680 weekly close basis
4.target period 6 - 8 months
