MGL - 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...
Mahanagar Gas Ltd - 08.03.2022
The stock is trading @ 761 levels
The prices are above EMA
There is a DOJI followed by BIG WHITE CANDLE in Daily Chart
The trend reversal will be confirmed once the prices go above 797
One can initiate a buy position at current levels with Support @ 734
Watch out for the price action
Please Note the swing trade is on weekly time graph.
Buy - CMP
SL - 830 or Risk Trades (Last SL - price closing below 780)
TGT: 1050-1080
Risk to Reward Ratio: 1:3
Please check with your financial advisor before investing.
Or one can use this for study purpose as well.
