MGL BREAKOUT All charts are self explanatory ...
disclaimer : above views are for study purpose only
MGL trade ideas
MGL - Another story of support and resistance.MGL at very strong weekly resistance since last 2 weeks. This level has time and again acted as a very strong support and resistance in past. If it manages to cross and sustain above that this can move further up. For educational purpose.
MGL at it major support, Buy at 778 long term MGL has been taking support between the prices 743 and 766.
The price range between 743 and 766 has been acting a major support
for MGL , The price is again at its support level.
So will be looking at going long on MGL.
Entry : 778
Target : 957/1094/1200
Stop loss : 665
MGL, Long above 1060 for target of 1230Range 1060-1080 is very important range, Prince has taken multiple resistance here and also broke out earlier once.
On 27th Nov, MGL made a big gap up and closed with a bullish candle with volumes. It has been consolidating since, once price moves above 1060-1080, we can go long with stoploss of 1020
Initial Target would be previous highs 1230
Breakout TradeMajor Resistance - 1100
Volumes are looking great - Pole and flag in making on daily charts
Look for a good volume breakout above 1100 levels
CMP is offering good R:R to enter
Do your own analysis and consider your own risk while trading!
MGL - buy on dipsBuy from cmp 1034 to 1025
tg 1065
sl daily close below trendline (consecutive 2 days)
Disclaimer : This is my personal analysis for study purpose not intended for trading
How long nifty will go ??After breaking previous high,nifty moved @7%
It happens mostly once previous high breaks which created atleast before 9-12 months,more upside possible 8-10% ,so I had estimated nifty target 13475, market surged 80% up from March low.FII were continuous seller in March now FII s continuous buyer from 20+ days.Be cautious at high levels, longer term prospect is good but short term is now not good.
My view is personal and educational.Am not SEBI registered analyst
MGL Positional & IntradayAs discussed earlier..MGL already achieved most of the levels.
After 2-3 days consolidation it might move upwards again.
TGT may be 1058/1078/1100/1123/1141/1167
Intraday TGT 1058/1078/1100
SL for intraday 1020 & 1000 for positional
if it opens below 1025 ..don,t trade.
Disclaimer: Ideas for learning Only.
Learn Regularly. NOT Occasionally.
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MGL and its pattern so far !!Price reached the resistance levels and there can be a profit bookings at the beginning of the next week then further up movement cannot be ruled out !!!
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Chart 5: MGL is at demand zone, can go long in dips till 780MGL also looking good for targets 1074, sl DCB 780.. Holding period max 3 months..
(Positional) Long MGLAbout Stock: MGL is engaged in the distribution of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and its adjoining areas. The company has very strong earnings strength.
Trade Setup: Stock has broken multi week high with volume and can be traded on long side. Momentum indicator RSI is also bullish on daily charts..
Buy Zone: 922-935
SL: 785
Target: Target1=1000, Target2=1092 Target 3=1248
Imp:
1. Trading requires more than technical analysis . e.g. Risk Management, trade management, psychology etc.
2. Always follow stop loss.
3. Once a trade is in your direction (say) 2-3%, never let it go in a loss.
4. Simply follow rules. Nothing else..
Disclaimer: This is for demonstration and educational purpose only.
MGL Positional
Buy near 900 for the tgt of 960/990/1020/1060/1100/1180
Disclaimer : Ideas for learning only.
MGL - end to bull run or read for next run?STOCK IS FEELING THE HEAT OF CRUCIAL RESISTANCE. RSI DIVERGENCE ALSO CAN BE SEEN COMPARED TO PRICE. STRONG VOLATILITY WILL BE SEEN IN COMING DAYS
MGLTrendline and the specially designed volume action analysis suggest a BULLISH run on the MGL.
The background with light green color are indication for bulls taking the position and the Light red background suggest Bears are dominating in the region.
This is my NEXT week analysis on MGL support line are there with good volume supporting the bullish view.
will give follow back to all the followers.
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**DISCLAIMER
There is a very high degree of risk involved in trading. Past results are not indicative of future returns. I assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice.
Inverse Head and Shoulder Pattern in MGL for target of 920+After downtrend in MGL in today's session, we got the breakout of the neckline of an inverse head and shoulder pattern with good buying volume. After some movement, we will see a small correction according to the pattern but it will continue its rally towards the 920+ target in next few trading session.
For trading, 840-845 is a good entry point with a stop loss of right shoulder bottom at 810. This trade can give good risk-reward as 1:3+ from entry-level.
Possible Trade:
Buy MGL at 840-845
Stop-loss 810
Target 920+
Disclaimer: Before taking any position take advise from your financial adviser. Also, Don't enter any trade without risk management.
