MAHANAGAR GAS LTDi have mark everything on charts best place to buy is around 1090 with sl of 1000 targets 1600. this share can give 40 % return in short period
thanls
MGL trade ideas
MGL Looking Bullish Above 1160MGL Looking Bullish Above 1160 if cross and sustain will touch 1195,1230,1250 Respectively
My View on MGLMGL should give trendline breakout above 1178-1179
Target 1197-1205-1213++
We will use TSL from 1156
Mahanagar gas looking bearishMahanagar gas showing sign of bearishness
1. RSI negative divergions on weekly time frame
2. Fib level 0.236 already broken on weekly time frame and now next support is 0.382
3. Head & shoulder pattern broken
4. Rising wedge could break down
MGL Short Term TradeThe stock has reached lower trend line and looks to take support and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby & 200 EMA .
Risk Reward Ratio - 1:1.
SL is placed below major support zone and target is place near swing and channel high.
Note: As the market is under selling pressure, enter only after confirming a reversal.
MGL LongMGL Trading inside channel .. The overall trend is positive
Long MGL CMP-1153 Tg1- 1224 Tg2-1270 SL-1120 Below Day candle close
POSITIONAL LONG VIEW IN #MGL CMP SPOT - 1254 BO RE - TEST LEVELSPOSITIONAL LONG VIEW IN #MGL CMP SPOT - 1254 BO RE - TEST LEVELS 1234 - 1215 ACCUMULATION ZONE
BUY MGL RANGE 1234 ADD MORE 1215
STOP LOSS 1200 ON CLBS
TARGET - 1260 1280 1300 1330 +++
MGL : LONG-INTRADAY {Support and Resistance} 17-05-2021MGL tried to break the support level but, failed.
We can expect a rapid up-move in MGL tomorrow.
MGL in consolidation phaseMgl is in consolidation phase. Expecting this phase to continue for short term. MGL will see a spike in price once work starts on natural gas availability in small cities.
Inverse H & S and if price close above 1209 then longInverse H & S and if price close above 1209 then long
MGL { 15 M short }Stock following a resistance trend line for reversal + IB in formation following a Doji
Short as it breaks, rest is as per charts
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
MGL { 15 M short }IB in formation at resistance in W frame . rest is as per charts
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
MGL - ShortMGL CMP - 1041.05
Looking bearish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Sell at or Below 1040 ONLY / Stop Loss 1049
Target 1 - 1035
Target 2 - 1030
Target 3 - 1025
Disclaimer: This is my view and for educational purpose only.
