MGL Bullish buy side Mahanagar Gas Limited (MGL) is exhibiting a bullish trend on the weekly chart, indicating a positive market sentiment and potential upward movement in its stock price. This bullish outlook suggests that investors are optimistic about the company's future performance, possibly due to favorable market conditions, strong financial results, or positive industry developments. As a result, the stock is expected to experience upward momentum, attracting more buyers and potentially leading to higher price levels in the coming weeks.
MGL
MGL Next Week Downside Target 1680MGL may see a downside trend next week, with the stock moving downwards with lower low formations on the daily chart frame. The stock is also down by 50% on the RSI indicator. The stock is also seen in a downtrend on our golden moving average, with a small stop loss that could lead to selling in the stock next week.
MGLNSE: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
MGL - Bearish ViewMGL - 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 educational purposes only, and it is crucial to trade with caution.
NSE:MGL NSE:MGLZ2023 BSE:MGL
#PETRONET 238 Recommended Buy - Rachit Sethia #stockstoWatch #PETRONET 238
Breakout at ATH and Retested
TGT 275 and open for above
SL Not Applicable
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
#DEEPAKNTR...looking good 18.05.23#DEEPAKNTR.. ✅▶️
Intraday as well as swing trade
All levels given in charts ...
IF good potential seen then we work in options also
if activate then possible a huge movement Keep eye on this ...
We take trade only when it activates...
Possible to give good target
TRADING FACTS
MGL-LONG DAILY TIMEFRAME 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 follow through.
The stock has opened slight gap down on Monday (27th June) and it has been sharply pushed up by buyers. This is a good opportunity to go long and with low SL (approx. 2%)
Please wait for the bullish price action if it opens gap down on Tuesday (28th June)
SL: 1010 Target: 1070
The entry is bit early as I mentioned that previously red candle did not got the follow through.
This is only for educational purpose, please manage your risk accordingly.
MGLNSE: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
MGL Long. Target 1040-1050.Fundamentally, this scrip is very strong and very good long term investment. Macro scenarios are in favour as energy will be in high demand in future. The October gas price review came as positive for city distribution companies, market was expecting 100% hike in LNG , but got 40%, which is good for IGL , MGL , GUJGAS .
Technically, made a doji at downturn of three weeks. Expect fast movement next week. Expect a very big move next week on the upside. It wouldn't be a surprise if scrip achieves 25% up move in a week. For reasoning look at our IGL chart posted earlier.
Disclaimer: This is for knowledge sharing. Consult your financial advisor before investing.
Note: RBI governor commentary is highly positive for Indian market, and in global turmoil, ENERGY and UTILITIES going to shine. This is one of the favourite pick for high returns.
MGL SHORT ViewMGL after trying to sustain and move above fell down to the market situations.
Good to short for some short time. Can easily move to the nest support zone around 680.
Trade safe. Manage risk. Be profitable.
Please follow us for more simple trading analysis and setups. Also let me know in the comment in case you have any queries.
Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
Mahanagar Gas Ltd - 08.03.2022Mahanagar Gas Ltd - 08.03.2022
The stock is trading @ 761 levels
The prices are above EMA
There is a DOJI followed by BIG WHITE CANDLE in Daily Chart
The trend reversal will be confirmed once the prices go above 797
One can initiate a buy position at current levels with Support @ 734
Watch out for the price action