MAHANAGAR 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
- 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...
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...
Stock -> MGL
TimeFrame -> Weekly
MGL has been swinging within the price band of 700-1200 since October 2016. It came back to its support, consolidated there for a while, and then made a strong bounce back. This I believe makes for a good opportunity to go long!
The bounceback had heavy volumes as can be seen in the chart. Also, the stock has...
#DoubleBottom #Breakout (trend reversal) Under Parallel Channel at #MGL (Mahanagar Gas Ltd) weekly chart.
What Is a Double Bottom?
A #doublebottom #pattern is a #technical #analysis #charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the...
From few months stock was trading in a sideways channel, now it has given breakout with good volume.
If we observe short-term chart, stock has already given a symmetrical triangle breakout for which final target is not yet achieved.
We can expect a good upside momentum if price closes above 905.
830-845 levels should act as strong support. Considering the...
#NSE:MGL trading @ Resistance and BO, now retracing, Possible movements marked on chart,
Retracement might continue and bounce. Potential levels updated.
850 CE given to our friends and bagged very good profits(5X Profits), still have very good potential.
(Reason for giving 850CE, TL BO, Cup& Handle BO) Multiple confirmation taken in to...
Stock Name - Mahanagar Gas Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 864
#This is not Buy and Sell recommendation to any one. This is for education...
The stock is looking good above 865 level for positional short term targets of 890 and 925.
Mid term targets would be 960, 1025 and 1050.
Disclaimer: This idea is for educational purpose and kindly buy as per your risk management.
I always encourage partial booking 1-2% profits and use a strict trailing stop loss.
Idea is positional and only carry position on...
Mahanagar Gas Ltd. engages in the sale and distribution of natural gas. Its businesses include Domestic PNG, Commercial PNG, CNG, Industrial PNG, and Gas Geysers. The company was founded on May 8, 1995 and is headquartered in Mumbai, India.