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
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.
Intraday Cash Buy MGL @993.00-994.15 SL 973 TGT 1030 cross over followed by a cloud breakout with huge volume
BUY ABOVE 992 TGT 996/1000/1004 SELL BELOW 937 TGT 933/928/921 Disclaimer : Trade at your own risk