Technical Trade - MGL reclaimed 50dma and 200 dma recently and since then it has been well. Currently, the price is around 61.8 retracement and today close looks constructive. Nifty is down 200 points but MGL has closed strong with 233% above average volume. If the price continues to move up with good volume, i will enter between 1058-1065
Trade active:
Breaking out with Above Average Daily Volume. good sign
Comment:
SL now at 1030
Trade closed manually:
Sold at 1065, the market is rallying but MGL is not performing. trade closed
Value doesn't move stock prices, people do by placing buy orders. Value is only part of the equation. Ultimately, you need demand - Mark Minervini