Published on 18/05/2017 1:44:13 PM | Source: Religare Securities Ltd

Derivative Ideas Mahanagar Gas Ltd For Target Rs.1,010.00 - Religare Sec

Posted in Broking Firm Views - Short Term Report | #Mahanagar Gas Ltd #Oil and Gas Sector #Trading Report #Religare Securities Ltd


Derivative Ideas

MGL added around 14% of open interest as long positions along with some delivery based buying in previous session. On charts, it has created a buying pivot on daily as well as on intraday charts. it is also trading above important exponential moving averages in higher highs - higher lows formation on daily charts. We recommend buying MGL May futures as per levels mentioned below.

 

Strategy:

BUY MGL MAY FUTURES BETWEEN 1005-1010, SL 990, TARGET 1050.

 

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