Mahanagar Gas 795Mahanagar Gas 795 is expected to test 880 as Bullish divergence and huge accumulation could be seen in charts.
MGL trade ideas
MGL ,RSISupport zone (previously 4 5 support zone), rsi divergence on weely and daily time fram , low volume with lower lows
MGL -weekly -demand zone- supply zoneMGL range 800 -1200 from few years.
SEE CHART AND ACT ACCORDINGLY.
EDUCTIONAL PURPOSE ONLY.
MGL | Short term investment opportunity - 50%MGL | Short term investment opportunity - 50%
Weekly time frame chart, may take 6-12 months to perform
CMP : 820
SL : 730
Target : 1250
1:5 risk reward setup
Mahanagar Gas Ltd- Buy between 800-820Price range 800-820 has been very strong support for the company, price has bounced from here several times. Again prices are at support, fundamentally company is good, gas volume has also recovered and expected to improve as company adding new customer in its basket. Expanding its presence and capacity. Future outlook is good and valuation is also cheap at this point at 10x vs 3 year average of 14x.
#MGL long#MGL Harmonic Working as expected
We can accumulate near to PRZ
PRZ-818-857
SL-761
CMP:917 @ 5 December 2021
Bullish Harmonics Positional Value PickMGL cmp 856
trade setup:
1. cmp 856 buy up to 842
2. keeping stop loss as 778 on closing basis
3. for targets : 886/936/973/1002/1030/1083+
technical buy based on :
1. bullish harmonics
2. fibonacii reversal .886 levels
3. strong multiple horizontal support
4. value pick in sector
note: stock can be bought for long term time frame .
keeping in technical reversal setup placed in stock .
highly oversold indicators in stochastic RSI also .
Looking good for higher targets!Stock is looking all set for a big move. Major movement above 892 DCB for Target 965+
mgl(03-01-2022)mgl complete correction traingle daily chart
correction start 5 march 2021
end 21 dec 2022
MGL MGL is close to its investment levels, price might fall a bit may be close to 800-810 and then could give a good rise, so accumulate this stock at current price or lower with SL 750 for a target of 950-1000 in coming weeks.
MGL SHORTDo initiate trade based on 5min candle close!
Levels mentioned on chart.
Trade at your own risk!
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MGL INTRADAY DEC 15THself explanatory chart.
trend line breakout.
levels for buy and sell given on the chart.
just typing cos otherwise it's not letting me publish.
thank you very much.
MGL is at a crucial point with multiple signs of movementMGL is at a crucial point with multiple signs of movement and we are tracking a little ahead, hence it can go up or down basing on the next candlesticks
Reasons/Traits :
• 20 EMA crossing 50 EMA from below
• Daily trend is at resistance/supply zone
• Inverted head and shoulder formation can be seen (Chances of going up)
• Descending Broadening Wedge pattern can also be seen (Chances of going up/can be failure)
• Last two daily candle stocks shows Dark Cloud Cover Pattern (Chances of going down)
• Volume is constant, ADX is below 25 (weak trend) and RSI is ascending and currently at 60
• Last daily candle retraced till 0.236 fib levels, if in uptrend, this retracement can lead to a sharp up move
What can happen next :
Scenario 1 : Above 1200 can go up to 1285 levels with a retest of the 1200 supply zone levels
Scenario 2 : Below 1200 can retest 0.236/0.5/0.618 fib levels and can go till the supply zone of 1080
In both the scenarios, a retest is required at supply zone to follow respective trend. Let’s see..
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Buying zoneExpecting the price to find support around these levels. To be followed by either by Consolidation or Uptrend Swing.
Disclaimer: View for Education Purpose only, not for trading suggestion.
MGL may be BullishMGL makes a Bullish Divergence
Two possibilities shown in the chart
Reversal can expect immediately
