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MGL

Mahanagar Gas (MGL): A High-Volume Channel BreakoutThe Macro Context Mahanagar Gas Limited (NSE: MGL) has successfully broken out of a multi-month Descending Channel on the Daily timeframe. After a prolonged corrective phase characterized by lower highs and lower lows, the stock has staged a sharp recovery. This breakout is significant as it signals a potential shift in trend from bearish/consolidation to bullish accumulation. Why this setup is on our radar: Volume Confirmation: The most critical element of this breakout is the participation. The stock has witnessed a massive spike in volume (1.21M vs 30-Day Avg of 273k). This indicates strong institutional interest driving the price out of the channel. A breakout backed by 4x average volume is statistically more reliable than a low-volume move. Momentum Shift: The aggressive green candle (+7.57%) has sliced through the upper trendline resistance with conviction. This "Impulse Move" suggests that sellers who were controlling the channel have been overwhelmed by demand. Structural Turn: By closing above the channel resistance, the market structure has initiated a potential "Change of Character." We are now looking for the formation of higher lows to confirm a sustainable uptrend. Technical Levels & Plan: Accumulation Zone: The breakout level (~1,100 - 1,120) now acts as a potential support zone on any retest. Invalidation Level: The bullish thesis relies on the breakout holding. A daily close back inside the channel (below ~1,050) would signal a "Bull Trap" and invalidate the current momentum. Structural Resistance (Targets): Short Term: 1,220 - 1,250 (Previous Swing Highs) Mid Term: 1,350 - 1,400 (Major Supply Zone) Risological Note: We trade the "Evidence." The volume here is the evidence. We are watching for follow-through to confirm that this isn't just a one-day wonder. Disclaimer: This analysis is for educational purposes only. Technical patterns are probabilistic, not guaranteed. Please consult a SEBI registered investment advisor.
NSE:MGLLong
by Risological_Algo
[Short Term]MGL at a Critical Inflection PointMahanagar Gas Ltd is currently trading at a decisive zone where long-term structure and short-term price behavior are colliding. After a strong multi-year uptrend, the stock entered a prolonged corrective phase marked by lower highs and sustained selling pressure from the top. However, price has now reached a historically important rising support zone, making this region a potential make-or-break area for the next major move. The repeated reactions from the upward-sloping support trendline indicate that buyers are still active at lower levels. Each time price approached this zone in the past, demand stepped in and prevented deeper damage. This suggests that long-term participants are still defending their positions, keeping the broader bullish structure technically alive for now. As long as this support remains intact, the correction can be classified as structural consolidation rather than a trend reversal. At the same time, the descending resistance trendline continues to cap upside attempts. Every rally toward this zone has been met with supply, showing that sellers are still in control of the higher range. The compression between rising support and falling resistance is gradually tightening, which often precedes an expansion move. Such environments reward patience, as the direction becomes clearer only after confirmation. If MGL manages to hold above the support trendline and break decisively above the falling resistance, it could trigger a strong recovery phase. In that scenario, the first meaningful upside objective lies near the 1560 region, followed by a broader move toward the 1990–2000 zone over the medium term. This outcome would confirm that the stock has successfully transitioned from correction into a new accumulation-to-expansion cycle. On the downside, the bullish thesis weakens significantly if price closes below the rising support trendline. A breakdown from this zone would indicate that long-term buyers are stepping aside, opening the door for a deeper retracement and trend reset. In such a case, the current setup would be considered invalid, and downside risk would dominate until a new base is formed. Overall, MGL is not a momentum trade at this stage but a structure-driven opportunity. The stock is asking the market a simple question: defend and reverse, or fail and reset. The answer will come from how price behaves around this support zone, making the coming weeks crucial for positional traders.
NSE:MGLLong
by TradZoo
MGL | Gann Square of 9 – 90° Reversal Case Study | 28 Mar 2022This idea demonstrates a historical intraday example of how the Gann Square of 9 can be applied on TradingView to identify precise reversal zones using price–degree relationships. On 28 March 2022, Mahanagar Gas Ltd (MGL) established its 0° reference point near the session high and then declined sharply. 📐 Gann Degree Structure 0° level: 766 45° level: 752 90° level: 739 Price moved decisively downward from the 0° base and completed the full 90° distance, where a strong price reaction and reversal was observed. ⏱️ Time–Price Validation (Gann Rule) As per classical Gann intraday guidelines: A reversal opportunity becomes valid when 45° is reached before 2:30 PM, or 90° is reached before 2:45 PM In this session, MGL completed the 90° move within the valid time window, making the 739 zone a logical reaction area rather than a random support. 🧠 Key Learning This case highlights how: Degree completion confirms market readiness Reversals emerge from mathematical structure, not indicators Patience and rule-based execution remove emotional bias 📌 Conclusion The Gann Square of 9 provides a structured framework for reading intraday price behavior. When price completes a degree move within time, reactions often emerge with high clarity. Disclaimer: This chart is shared strictly for educational and analytical purposes only. It is not a trade recommendation or investment advice.
NSE:MGL
by WD_Gann_Theory
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.
NSE:MGLLong
by baddonkey99
#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
NSE:PETRONETLong
by Rachit_Sethia
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.
NSE:MGLLong
by Rushikesh_09
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.
NSE:MGLLong
by UnknownUnicorn25812798
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