Published on 4/06/2020 1:53:13 PM | Source: Motilal Oswal Financial Services Ltd

Buy Mahanagar Gas Ltd For Target Rs. 1080 - Motilal Oswal

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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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