MGL Wedge pattern on Daily TimeframeMGL likely to trade in between this wedge pattern before breakout or breakdown.
Trend mostly indicate breakout but downward retracement is expected as per RSI
MGL trade ideas
MGL weekly Inverted Head Shoulder- BuyMgl is making inverted head and shoulder on weekly chart. Price is closing on weekly Ema 52 with RSI positive divergence which indicates some short term strong bullish up moves. Fundamentally also good as PE and EPS.
MGL: Technical Analysis at it's best😀MGL
Day before yesterday when markets looked difficult, charts indicated that MGL is at Support and that odds are in favor of going Long...
In 2 days the stock has rocketed and even in an overall down market this stock is holding up firmly...
Note this is not any recommendation now. Just to showcase how technical analysis can improve our trading....!!!
The original idea despite being spot on... has no Likes 😒
Do Like, Follow and Share🙏🙏
MGL- Short Term :Bulls Counter attackMGL- Short Term :Bulls Counter attack , up trend as long as it sustains above 790 on closing basis. Potential targets - 910
MGL: Will previous Resistance act as Support?MGL
- The zone of 780-800 acted as resistance in the month of June and July
- it broke past its resistance in Aug and made a high of 925
- now it is back to 780-800 zone
On charts, Risk::Reward ratio looks favorable to go long
With a SL at 755 on closing basis, one may look to go long in the stock
Buy zone: 780-800
Time frame: Medium to long term perspective
Target 920 / 966 / 1030
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F&O strategy
Alternatively one may consider to sell 27 Oct expiry 750 Put option
The strategy has a profit potential of 10% - 11% and provides protection for a fall up to 734
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
MGL for positional trading Please note this is for education purpose only. Please do own research before you take a trade
MAHANAGAR GAS LTD DOUBLE BOTTOM BOMAHANAGAR GAS LTD
Chart Time Frame: WEEKLY
On Weekly Basis Time Frame the Stock has given a Good Breakout of Double Bottom Pattern with decent volumes on the Chart
So as per the Chart Stock looks Good for Long Position for Short to Medium as per the Levels given below:
CMP - 871.35 or BoD 850
Target 1 - 938
Target 2 - 1013
Target 3 - 1088 +
SL - 810
Holding Time Frame - Short to Medium Term
All charts posted here are only for EDUCATIONAL PURPOSE
Before entering into any Trade / Investment Position kindly consult your Financial Advisor
MGL FOR LONGTERM INVESTMENTHI TRADERS.,
1. overall MGL stock traded in sideways trend last 3 years ..,now MGL traded in bottom of the sideways zone (accumulation zone).,
2. usually big players accumulate stocks at zone areas.., once done that accumulation it will start trending
3. its for long term investment
buy at current market price target of 1250
stop below 680 weekly close basis
4.target period 6 - 8 months
MGL is ready for breakout Double bottom in higher time frame also in smaller time frame, strong support safe trade can buy after breakout risky trader you can buy now
breakout in MGLMGL stock good breakou for swing tradingband short term position trading its target 1200
MGL long opportunityNSE:MGL
Stock -> MGL
TimeFrame -> Weekly
Hello all!
MGL has been swinging within the price band of 700-1200 since October 2016. It came back to its support, consolidated there for a while, and then made a strong bounce back. This I believe makes for a good opportunity to go long!
The bounceback had heavy volumes as can be seen in the chart. Also, the stock has closed above its 50-week EMA which is a sign of bullishness.
The stop loss here is minimal compared to the Reward which is near 1100-1200 levels.
*NOT A CALL*
#nifty #mgl #swingtrading #technicalanalysis
MGL looks good at CMP 814 for higher targets of 950+ SL 750/-It has given a nice breakout with huge volume. Looks big buying is happening. One can enter with small SL for much higher Risk Reward.
DoubleBottom Breakout Under Parallel Channel @ MGL#DoubleBottom #Breakout (trend reversal) Under Parallel Channel at #MGL (Mahanagar Gas Ltd) weekly chart.
What Is a Double Bottom?
A #doublebottom #pattern is a #technical #analysis #charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter "W". The twice-touched low is considered a support level.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (TRUST YOURSELF)
#nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
mahanagar gasMAHANAGAR GAS ....
1 - forming box pattern
2 - golden crossover
3 - good volume
4 - bullish rsi 76
5 - 6 months consolidation BO
Channel Breakout in Mahanagara Gas LtdFrom few months stock was trading in a sideways channel, now it has given breakout with good volume.
If we observe short-term chart, stock has already given a symmetrical triangle breakout for which final target is not yet achieved.
We can expect a good upside momentum if price closes above 905.
830-845 levels should act as strong support. Considering the spike in volume we can expect a good rally in upcoming days.
Stop loss can be placed at 800 for risk takers and 830 for risk averse. All possible targets are marked on the chart.
This is not an recommendation. Do your own analysis before investing.
NSE:MGL
MGL Resistance BO !!NSE:MGL
#NSE:MGL trading @ Resistance and BO, now retracing, Possible movements marked on chart,
Retracement might continue and bounce. Potential levels updated.
850 CE given to our friends and bagged very good profits(5X Profits), still have very good potential.
(Reason for giving 850CE, TL BO, Cup& Handle BO) Multiple confirmation taken in to consideration.
check my signature column for details.
MGL - Ichimoku Bullish Breakout Stock Name - Mahanagar Gas Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 864
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
# Cloud Trading
# Ichimoku Cloud
# Ichimoku Followers
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, it motivates me to do analysis.
Watchout for range breakoutThe stock is looking good above 865 level for positional short term targets of 890 and 925.
Mid term targets would be 960, 1025 and 1050.
Disclaimer: This idea is for educational purpose and kindly buy as per your risk management.
I always encourage partial booking 1-2% profits and use a strict trailing stop loss.
Idea is positional and only carry position on day closing basis.
Learn & earn,
Dr . Tanya Kumar
MGL - LONG - 18% upside potentialMGL has given double bottom breakout at 845 levels with RSI divergence.
Target: 1000+
SL: 825
View: Positional (around 1-2 months)
