Mahanagar gas showing sign of bearishness 1. RSI negative divergions on weekly time frame 2. Fib level 0.236 already broken on weekly time frame and now next support is 0.382 3. Head & shoulder pattern broken 4. Rising wedge could break down
MGL AGAIN TAKING SUPPORT AT THE SAME LEVELS THIS TIME CAN BOUNCE WITH MOMENTUM
The stock has reached lower trend line and looks to take support and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby & 200 EMA . Risk Reward Ratio - 1:1. SL is placed below major support zone and target is place near swing and channel high. Note: As the market is under selling pressure, enter only after confirming a reversal.
Follow trendline Keep sl below previous swing low Just for education
MGL Trading inside channel .. The overall trend is positive Long MGL CMP-1153 Tg1- 1224 Tg2-1270 SL-1120 Below Day candle close
POSITIONAL LONG VIEW IN #MGL CMP SPOT - 1254 BO RE - TEST LEVELS 1234 - 1215 ACCUMULATION ZONE BUY MGL RANGE 1234 ADD MORE 1215 STOP LOSS 1200 ON CLBS TARGET - 1260 1280 1300 1330 +++
MGL looking Good for target of 1150/1175/1200/1225/1245 With SL-1106
MGL tried to break the support level but, failed. We can expect a rapid up-move in MGL tomorrow.
Mgl is in consolidation phase. Expecting this phase to continue for short term. MGL will see a spike in price once work starts on natural gas availability in small cities.
Inverse H & S and if price close above 1209 then long
Stock following a resistance trend line for reversal + IB in formation following a Doji Short as it breaks, rest is as per charts Note :- Entry - At the break of mentioned candle's low/high Stop Loss - In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which...
IB in formation at resistance in W frame . rest is as per charts Note :- Entry - At the break of mentioned candle's low/high Stop Loss - In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades Trailing Stop Loss (...