Technical Trading Idea
* MGL gave a range breakout and managed to close above the same. It formed a Higher High - Higher Low sequence on weekly chart, which is a positive sign as per Dow Theory. RSI oscillator is placed positively along with a set of moving averages on daily scale, indicating strength in the counter.
* Looking at current structure, we advise traders to buy the stock for an up move towards 1080 with stop-loss of 980.
Buy Mahanagar Gas Ltd 2-3 Days CMP 1014 Target 1080 SL 980
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