The Mahanagar Gas Ltd (MGL) chart view on TradingView shows the price of MGL stock over the past few weeks. The chart shows that MGL has been in a downtrend, but has recently found support at around INR 1000.
There are a few key things to note on the chart:
Support and resistance levels: The chart shows two key support levels at around INR 1000 and INR...
MGL has recently moved closer to its resistance level of 1125. Significant volume as the price approaching the level. It would be a high-probability trade if it breaks the resistance with volume and retraces back to its support level. We can enter the trade for 3.5 risk-to-reward ratio. Also, it goes unnoticeable that it has been forming a cup and handle pattern....
MAHANAGAR GAS LTD
Key highlights: 💡⚡
📈On 1Day Time Frame Stock Showing Reversal of wedge Pattern .
📈 It can give movement upto the Reversal Final target of above 1130+.
📈There have chances of breakout of Resistance level too.
📈 After breakout of Resistance level this stock can gives strong upside rally upto above 1270+.
📈 Can Go short in this stock by placing a...
NSE:MGL
Stock is consolidating in Descending triangle pattern from past few days.
It is taking support on previous Break out level which is 1015-1020.
On 22nd June we can see a clear rejection from top. Following to the rejection there is a big red candle which is closed near support levels. Now here comes the interesting part the red candle did not got the...
MGL is looking strong for upside.
Monthly- Upper bollinger band challenged and RSI is above 60
Weekly- MACD positive crossover stat and RSI is above 60
Daily- Trendline breakout with upper bollinger band challenged.
MACD PCO just above zero line
RSI is above 60
Volume is good.
ADX is 19
NSE:MGL
One Can Enter Now ! Or Wait for Retest of the Trendline (BO).
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
swing trade take trade when nifty turns bullish swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
MGL is breaking out with possibility of achieving its all time high price ( 1200+). Stop loss of 920.
Disclaimer: The stock/index/currency discussed do not constitute Investment/trading advise and is merely an effort towards enhancing learning, knowledge and book keeping. Kindly do your own due diligence and/or consult investment advisor before making any...
Even in the falling market the stock is sustaining and now at taking support of EMA and forming small candles showing weakness of sellers. Buying with little risk can be good.
Only for educational purpose.
This is based on triangle breakout..so buy...traders with a stop below the breakout line...Investors buy some here and IF MGL goes down ...average more there
