MGL trade ideas
mahangas gas watchoutseems a leading diagonal shall be formed here
after the diagonal is formed , it shall retrace a bit ( marked two retracement levels i.e. 61.8 & 78 )
then the upside move towards 1200 ..
so this is a watchout counter for next week that is last week of April 2021
Happy investing
MGL
After Big consolidation Stock had given BO & retested that support. Can be a good buy above 1145 for the target of 1350 with SL 1050. R:R 1:2
MGL BEST BUY ZONE ?CMP 1076
BEST BUY ZONE 1035 TO 1045
SL 1010 CLOSING BELOW
TARGETS 1064/1086/1105/1134/1168 +++
Intraday trade for 9-4-2021Entry:- If stock close above 1144 before 10 AM on a 15-minute timeframe then only take the trade.
Target:- 1180
Stop Loss:- 1115
Disclaimer:- Trading tips are only for educational purposes. Trading and investment contain risk. Please consult your financial advisor before making any trade or doing an investment. I'll not be responsible for your loss.
Thank you!
INTERMEDIATE WAVE Y BOUNCE.EXIT LONGS BETWEEN 1145-1165WXY DOUBLE ZIGZAG DONE@1227.LOOKS LIKE THIRD
CORRECTION IS GOING ON IN INTERMEDIATE DEGREE WHICH IN ITSELF
IS MAKING WXY OF LOWER DEGREE OF WHICH WAVE W AND X
HAS BEEN DONE RULING OUT THE SCENARIO OF WAVE X BEING
A TRAINGLE.FURTHER WAVE Y HAS STARTED AND 1:1 EXTENTION
TGT COMES @ 1020 ALONG WITH 50% RETRACEMENT OF ENTIRE
WAVE Y PRIMARY DEGREE COMING @ 1005.FRESH LONGS CAN BE
INITIATED BETWEEN 1005-1010 PROVIDED STOCK GIVES REVERSAL
CANDLE ALONG WITH GOOD VOLUMES.FURTHER POSSIBILITY OF PRICE EXTENDING TILL
161.8% OF WAVE W INTERMEDIATE CANNOT BE RULED OUT AS LAST TIME WAVE Y OF
INTERMEDIATE DEGREE DID EXTENDED TILL161.8% OF WAVE W INTERMEDIATE
SHORT @1144 LEVELS WITH STOP LOSS @1205 AND TGT @1010.
DISCLAIMER:TRADE SHOULD NOT BE TAKEN ONLY ON THE BASIS OF THIS ANALYSIS. ONE SHOULD UNDERSTAND THE RISK ASSOCIATED WITH THIS SETUP AND ACT ACCORDINGLY AND INDEPENDENTLY AS THIS ARE JUST MY VIEWS THAT I AM SHARING.
Wait for Signal in MGL ! Entry as per marked levelsAll important zones marked on chart very clearly, you can easily identify the support and resistance levels of MGL it faced over the time period.
My personal view is for upside breakout but will wait for the confirmation as markets moves with setup and price action not on our thinking and mindset.
So even I am expecting MGL to move upside till 1230-1250 before this month expiry if overall market supports but still I will rely on the price action and strictly follows the same and enter only if it moves in either direction and giving us the breakout of one of the trendlines.
This is my personal view and might doesn't work for you or even for me therefore consult and review before entering taking any trade and also glad to hear your view for this setup or anything which i missed out in the setup.
Trade Wisely!
BEGINNING OF SUB WAVE 3 OF WAVE 3 WXY EXPANDED FLAT CORRECTION'S TARGET OF 161.8% EXTENTION OF WAVE W HAS BEEN ACHIEVED @1074.00.STOCK HAS BOUNCED FROM THIS PRICE AND HAVE FORMED SORT OF HAMMER PATTERN WITH LONG TAIL INDICATING WAVE 3 IS BEGINNING TARGET FOR WHICH COMES @ 1440.INITIATE LONG @CMP 1112 WITH STOPLOSS OF 1010 AND TARGET OF 1440.RISK REWARD ON THIS TRADE IS EXCELLENT.ALSO COMPANIES FUNDAMENTALS ARE BEST AMONG THE SECTOR.
MGL Intraday Trade | March 17th 2021The stocks looks good to Short near 1200 levels for tomorrow as an Intraday Trade.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
