Buy Mahanagar Gas Ltd For Target Rs.1020 - Religare Broking
Mahanagar Gas Ltd
* MGL has recently witnessed breakout from a consolidation range and currently trading in a narrow range.
* It has retraced marginally but still holding firmly above the short term moving average (20 EMA), indicating positive tone.
* Resilience in the other gas distribution companies is added positive.
* We thus suggest initiating fresh longs as per the given levels.
Buy Mahanagar Gas Ltd @ BUY CMP 970; Range 965-970; SL945; Target 1020
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