MGL trade ideas
MGL Gap Theory TradeEntry on 31st August at 866.55 with an initial stoploss of 834.65
TSL using weekend strategy with a target of 891.05
MGL LOOKING BEARISH !!POSSIBLE SHORT
1) MOMENTUM LOSS ON RESISTANCE
2) TREND LINE BREAK
3) CROSS BELOW 50 MOVING AVERAGE
MAHANAGAR GAS At S/R zoneMAHANAGAR GAS At S/R zone.
Mahanagar gas is at S/R zone and has formed a powerful candle.
Candle body is big, but higher wick sis very big.
Candle ended on red note.
One can short below day's low.
Long above previous day's high.
Short term Swing trading-MGL-ShortMahanagar Gas Limited (MGL) looks bearish for short term.
Sell Below: 775 for targets -
T1: 736
T2: 721
T3: 705
SL: 813.8
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
mgl - just for observationstock has broken below head and shoulder neckline . just observing for 2-3 mnth whether price will fall further and achieve head and shoulder target or not. expected levels 600 to 650
MGLPrice consolidation
RSI Divergence
MACD Cross over
Will we see 989/1008/1079/1136 before price closes below 889???
MGL Mid term viewMGL already running for Head and shoulder pattern target of 848. Pls view chart for the details. Weekly and daily bandbollinger showing weak signals. Better to stay away....
follow through todays open is more than previous close . as per the krule of morning star rule gapup, price opened 2rs gap up and closed above the previous close, so you will see follow through. so it is confirmation that price will move up and fill the gap so go long with stoploss of 911. buy for the target of 950
