MGL trade ideas
[Diary] MGL Trading PlanAs per charts.
MGL just had results in Friday. The profit fell drastically that's why I think it can trigger short actually. Lets see.
MGL LOOKING BULLISH.MGL(MAHANGAR GAS LTD) LOOKING BULLISH TRADING NEAR SUPPORT AREA ACCORDING TO THE ANALYSIS MGL CAN BOUNCE AND CAN GIVE GOOD AMOUNT OF RETURN MAKE YOU TRADE PLAN ACCORDING.
Can the demand zone hold?Stock is trading around demand zone with a few narrow candles. If the level holds it should bounce from here.
MGL - Intraday Trading Setup for 27 July 2020Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
MGL THE UNFINISHED PULL BACK !! (BEARISH)Indicators :
RSI : Neutral
TE MINOR BAND : Bearish
TE Scalper is used for reversal.
1018-1033 is a big resistance zone.
MGL looks weak below : 1004,
Incase it break the lower trend line, target can be : 980/971
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Analysis are my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
Can we go to 1177 as it seems a wave 3 is unfolding?only time could prove the timing of the markets direction true / false!
MGL Fibonacci cluster and resistance zone drawnup trending stock under pressure, facing resistance at higher level. trend line also breached.
MGL - Bearish breakoutNote: This is for educational purpose only.
There is a bearish breakout from wedge pattern as well as lower support level. This is supported by high volume. RSI is below 40 which adds to the bearish momentum.
MGL Daily - Bearish Engulfing at Support MGL saw a good fall last week but looks like bad times will continue for this symbol. Short position can be taken with a target of 930 to 890.
MGL Bearish view. SL in range of 1060-1080MGL 1089 upper resistance. Lower support in the range of 1009 to 1017. tight range and on the lower end of bollinger side. Target around 985. Breaking of that then can show a level of 880.
Long side only above 1089.View Bearish. SL 1060.
Bearish cross over just happened 2 days back and RSI at 45 on daily chart basis.
Shows a downside till 985 for sure.
MGL VIEW WHERE THE STOCK HEADING BUY OR SELLbuy view
buy the stock at 990 to 1000
keeping sl as 960
targets 1030/1054/1088/1124
the stock can face some reversal at 1124
if closed above can test 1185
sell view
sell in the range 1185 to 1195
keeping sl as 1250
targets 1125/1088/1054/1030/992
MGL - SHORT SETUP NSE:MGL
BEARISH SETUP - Breakdown from a rising wedge pattern with massive volumes supporting the bearish momentum.
Also the distribution phase can be clearly spotted with dried up volumes and a sudden breakdown with huge volumes confirms the charge of bears, thus a good downside move can be seen in next few trading sessions.
View: Short on confirmation (once RS breaks zero level from above)
PS: Trade with caution or wait for some more price action.
Diclaimer: Take this view only for educational purpose. Trade on your own risk.
Happy trading!
MGL Bullish above 1091MGL is ascending triangle pattern and have been consolidating. Break out above 1091 can take it higher.
- Views are for educational purpose only.
