Hello fellow traders! Hope you’re all doing great.
Today, I’d like to share my technical outlook on Mahanagar Gas Ltd (MGL).
Key Observations:
1. Ascending Channel: The price is currently respecting an ascending channel formation on the chart.
2. Target: I'm anticipating a potential move toward ₹1440, which aligns with the upper boundary of the ascending channel. This level also coincides with a long-term resistance zone, adding confluence to the setup.
3. Stop Loss: A strict stop loss should be placed at ₹1220 on a closing basis. As long as the lower trendline holds, this setup remains valid.
4. Risk-Reward Ratio: This trade offers a favorable 1:2 risk-to-reward opportunity.
Disclaimer:
This is a personal analysis and not financial advice. Please do your own research and trade responsibly. Risk management is key.
Thanks for reading!
Looking forward to your thoughts and feedback.
Best regards,
Anantesh
Today, I’d like to share my technical outlook on Mahanagar Gas Ltd (MGL).
Key Observations:
1. Ascending Channel: The price is currently respecting an ascending channel formation on the chart.
2. Target: I'm anticipating a potential move toward ₹1440, which aligns with the upper boundary of the ascending channel. This level also coincides with a long-term resistance zone, adding confluence to the setup.
3. Stop Loss: A strict stop loss should be placed at ₹1220 on a closing basis. As long as the lower trendline holds, this setup remains valid.
4. Risk-Reward Ratio: This trade offers a favorable 1:2 risk-to-reward opportunity.
Disclaimer:
This is a personal analysis and not financial advice. Please do your own research and trade responsibly. Risk management is key.
Thanks for reading!
Looking forward to your thoughts and feedback.
Best regards,
Anantesh
Trade ist aktiv
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Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.