GETTEX:NSE : MGL Is a good fundamental stock. and latest Q. profit check out all-time-high
> According to my analysis company has good future growth and also there are multiple sigh
> On the chart pattern we can see there are multi-year breakouts and now testing all-time high
levels of re-test
* value buying stock on re-test levels *
This study is an educational post, not a trade /investment recommendation.
What looks like a double bottom can reverse multi-year trend at times and provide great investment opportunities!
NSE:MGL
One Can Enter Now !
Or Wait for Retest of the Trendline (BO) !
Or wait For better R:R ratio !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low.
2. R:R ratio should be 1 :2 minimum
3. Plan as per your RISK appetite and Money Management.
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
TRIANGLE CORRECTION : ELLIOTT WAVE ANALYSIS
A triangle is a sideways movement that is associated with decreasing volume and volatility.
Guidelines
Triangles have 5 sides, Corrective structure labelled as ABCDE
Location :
a- Usually happens in wave B or wave 4
b- Wave D in triangle itself
c- If in second then 2 will be zigzag and this will happen in B of...
MGL is looking good above 1270, box breakout after years of consolidation is nearing, if it breaks the box a solid move can be seen.
Note: Please consult your financial advisor before any investment.
MGL - Elliott Wave Count
this view not a 100% reliable to take trade. its just a tentative view based on the current market movement.
if the market breaks the channel and comes back inside then we can take short trade for the target near bottom trendline.
SL will the whatever the high made after the Trendline breakout.
Please note that this information is for...
It’s not an investment suggestion, sharing just for knowledge sharing purposes.
If it breaks this particular resistance level than it should rally up to the next resistance level.
