MGL has reached at its Very Strong S&D area from where it has taken multiple times support. If it survive and get demand then can head towards 100+ up-move. If it doesn't survive(not get enough demand, and suppliers win) then we can see 100+ down-move too. Down-move of stock is not expected (but in the market we never knows) Oct & Nov month will...
MGL has made a good bullish move from the lower levels by forming an ascending triangle structure and can break the zone to higher levels. Volume is also increasing in the zone, leading to higher probability that it will move upwards.
MGL has formed a bullish right angle triangle formation and can breakout on higher levels.
The stock seems to having headache from the fact that it FAILED to pass the 1000 psychological level and the retracement on downtrend was just .232. Which makes a probable case for trend continuation and we target .5 fib extension.
Mgl is awaited for an upward breakout
MGL broke all support lines and is at last support line... i think it will break down and can fall down further
BUY ABOVE 992 TGT 996/1000/1004 SELL BELOW 937 TGT 933/928/921 Disclaimer : Trade at your own risk
MGL (Mahanagar Gas Ltd) SELL BELOW 1010
MGL (Mahanagar Gas Ltd) BUY ABOVE 1032