Date: 19 Nov 2020
MGL (CMP: 921.30)
Type of Chart: Weekly Chart
Diamond pattern formation.
The weekly volumes are increasing on buy side. RSI is moving above 50 levels.
Breakout above 950 levels on weekly basis will confirm the pattern. If that happens then look for stock to move up towards 1525 levels.
Time frame: 102 weeks. i.e. target can be achieved by 14 Nov 2022.
If purchased at 950 then Profit = 60% over a period of 2 years. Very good returns for long terms bet.
MGL (CMP: 921.30)
Type of Chart: Weekly Chart
Diamond pattern formation.
The weekly volumes are increasing on buy side. RSI is moving above 50 levels.
Breakout above 950 levels on weekly basis will confirm the pattern. If that happens then look for stock to move up towards 1525 levels.
Time frame: 102 weeks. i.e. target can be achieved by 14 Nov 2022.
If purchased at 950 then Profit = 60% over a period of 2 years. Very good returns for long terms bet.
Trade active:
Stock strongly went above 950 levels. Initiate buy.