Short MGL below 1015 target 1002. Reason for Sell, Stock is making lower highs and lower lows and can try to fill the gap.
Please Note I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
Mahanagar Gas Limited has broken out from its recent swing high.
Immediate target for the same is marked in the dashed line, Also if anyone wants to keep it positionally, targets are marked on the chart.
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MAHANAGAR GAS LTD
Key highlights: 💡⚡
📈On 1Day Time Frame Stock Showing Reversal of Falling wedge Pattern .
📈 It can give movement upto the Reversal Final target of above 1065+.
📈There have chances of breakout of Resistance level too.
📈 After breakout of Resistance level this stock can gives strong upside rally upto above 1145+.
Scrip is breaking Daily Support which is also a Neckline.
Below Neckline we can see Breakout Failure.
This can lead momentum till next Demand Zone 920 level.
We can carry positional easily for next 2-3 Weeks.
MGL bullish above 1030
SL 998
Target 1190+
Disclaimer - This is not a buy and sell tip,it's only for educational purpose analysis
We are not responsible for P& L
MGL:- If the stock breakouts from the trendline, it can show an upside moment. Keep an eye on the stock.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to...
NSE:MGL
✅ #MGL trading above Resistance of 1075
✅ Next Resistance is at 1241
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not...
midcap stocks are going to boom
there is possibility for big move
instead of intraday its better to go for 3 to 4 days of holding
with proper risk management
NSE:MGL #MGL has become sideways at previous high level/previous resistance on daily timeframe and it is trading in the same range in which it was stuck before crashing massively,
if MGL crosses 1030 level or opens above it, we might see a sudden rise of 5%+ move in a single day ,
ih it goes below 1000 again, we might see downside move again, watch both levels...
Excellent breakout of resistance zone.
Price is getting accepted above resistance zone. Making Flag Pattern.
Entry above Breakout candle - 1000
Stop below Breakout candle - 915
Target All Time High(1200) and more.
