MGL : CUP and Handle breakout in monthly/weekly time frame.MGL cup and handle pattern. Target shown in the chart.
Fundamental good
Note: Just for knowledge sharing purpose.
MGL trade ideas
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
Mgl bullish view 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.
#mgl - Evergreen stock - Excellent RR 1:4#mgl - Approaching BO. Risk reward 1:4
SL is defined.
PS : Only for learning purposes. Please consult your financial advisor before investing.
Multiple Support and Key Resistance LevelThe 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 750. These levels are where the price has previously found support and bounced back. There is also a key resistance level at around INR 1200. This level is where the price has previously faced resistance and been rejected.
Moving averages: The chart shows two moving averages, a 50-period and a 200-period moving average. The 50-period moving average is currently above the 200-period moving average, which is a bullish sign.
Overall, the MGL chart is showing some bounce from bearis. The price has found support at a key level, but the 50-period moving average is below the 200-period moving average and the MACD on OBV indicator is showing a bullish crossover. This suggests that the price could be about to move higher.
Trading strategy:
Based on the chart, a possible trading strategy would be to buy MGL at the current price level, with a stop loss below INR 1150 and a take profit target at INR 1200. This would give a risk-reward ratio of 1:1.
It is important to note that this is just a possible trading strategy and is not financial advice. Always do your own research before making any trading decisions.
Additional notes:
The MGL chart view on TradingView is using a daily timeframe.
The volume indicator shows that the volume has been increasing recently. This is a bullish sign that suggests that there is more interest in buying MGL.
It is important to be aware of the risks involved in trading stocks. Stocks are volatile and their prices can fluctuate wildly.
Please note that this is just my opinion and is not financial advice. Always do your own research before making any trading decisions.
MGL looks bullishMGL 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. RSI is above 60 on monthly and weekly time frames. It also crossed 60 on the daily time frame in the last trading session.
It crossed 50 EMA on the daily time frame and has been above 50 EMA on the weekly and monthly time frame.
#MGL - evergreen stock Expecting better set of results.
PS : Only for learning purpose. Please consult your financial adviser.
wedge pattern reversal in MGLMAHANAGAR 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 stop loss below 1044-.
mgl buy @ 1075 target @ 1111, 1119, 1129 channel pattern breakomgl buy @ 1075 target @ 1111, 1119, 1129
channel pattern breakout
risk reward 1.5
sl@1038
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.
MGL BULLISH, Kindly do your own researchMGL 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
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 FRESH BREAKOUT CANDIDATE !!!
MGL
👉Strong Breakout Candidate
👉 Massive Volume Buildup
👉Big Range Accumulation
👉Trading 52 Week's High
👉Buy Above 990( Partially)
👉Rest After Testing BO Near 930/940
👉SL -- Below 890 ( DCB)
👉Targets -- 1060/1140/1250+
STOCK NAME { MGL } SWING TRADEswing 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.
Long on Mahanagar gas (MGL)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 investment/trading decisions
MGL 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.
MAHANAGAR GAS LIMITED BuyThis 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
MGL Buy for intraday tradingMGL Buy for intraday trading if stock break the given resistence level..........
Upcoming retest MGLGood fundamental ratios, results , good dividend pay outs , debt free. need to close above previous month high and breaking the high of august month again will be a momentum run trade.
Remember : You don't have to participate every party just wait and take invitation those from that you will be extremely happy by trading. Implement a techno fundamental system where you can see amazingly the price action works according to the company's performance and tech chart. Price move without significant volume is not trust worthy. when i realized this i had totally changed my entire trading system.
Happpy Trading guys
Breakout with high volume If price pullback 50% of the breakout candle then good opportunity for go long . #MGL Daily chart
