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2021 Mahanagar Gas (MGL) technical analysis [forecast] stock price targets

Mahanagar Gas technical analysis & forecast stock price targets, Daily, Weekly, Monthly technical analysis

Mahanagar Gas Mahanagar Gas option chain analysis

Date Close Open High Low Volume
27 Wed Jan 1043.60 1055.00 1080.00 1035.05 12.64 lakhs
25 Mon Jan 1052.30 1046.15 1063.00 1011.35 9.17 lakhs
22 Fri Jan 1041.05 1035.00 1065.95 1019.00 17.42 lakhs
21 Thu Jan 1041.70 1094.95 1095.00 1037.15 7.89 lakhs
20 Wed Jan 1085.10 1084.90 1094.50 1071.05 4.69 lakhs
MGL chart

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 1053.9, but if it comes above 1053.9, then a intra day buy could be more profitable.
If you take a sell trade below 1053.9, then use 1053.9 as stoploss and 1017.3 as target. However if you take a buy trade in stock , then use 1053.9 as stoploss and 1084.49 as target.

  • Daily Price action analysis of MGL based on a short term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

  • Daily Price action analysis of MGL based on a short to mid term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

  • Daily Price action analysis of MGL based on a mid term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

Intraday technical analysis of Mahanagar Gas

Stock is trading at 1043.60 as on 27 Wed Jan 15:33

Day open is at 1055.00, day high is at 1080.00, day low is at 1035.05, and day volume is at 617.35 lakhs so far.

First 15 minute high low range is 1040.30 - 1059.00

First hour high low range is 1040.30 - 1077.00

Date Intraday Price Open High Low Volume
27 Wed Jan 15:33 1043.60 1055.00 1080.00 1035.05 1263986
27 Wed Jan 15:29 1040.00 1055.00 1080.00 1035.05 1263986
27 Wed Jan 15:25 1046.05 1055.00 1080.00 1035.10 1252221
27 Wed Jan 15:20 1048.85 1055.00 1080.00 1035.10 1234109
27 Wed Jan 15:15 1042.00 1055.00 1080.00 1035.10 1212364
Intraday MGL chart

Trend of Mahanagar Gas is not defined as of yet. Wait for entry and exit levels given below.

Take a trade after 9:30am only.

Mahanagar Gas (MGL) intraday stock price targets

  • EntEntry: 1049.65 or 1048.425
  • Upside target: 1059
  • Downside target : 1021.6
  • Second Upside target: 1061.8
  • Second Downside target : 1016.85

Mahanagar Gas (MGL) weekly technical analysis

Date Weekly Close Open Range Volume
27 Wed Jan 1043.60 1046.15 1011.35
1080.00
21.808 lakhs
22 Fri Jan 1041.05 1082.50 1019.00
1095.00
40.73 lakhs
15 Fri Jan 1090.80 1118.10 1073.30
1146.00
32.528 lakhs
08 Fri Jan 1116.55 1065.00 1060.10
1147.35
74.764 lakhs
01 Fri Jan 1059.95 1060.00 1048.05
1095.00
42.193 lakhs
weekly MGL chart

Weekly forecast of Mahanagar Gas is negative. Sellers dominated the stock this week, and might continue to dominate in coming days too.

Weekly Price action analysis of Mahanagar Gas based on a short term time period is negative, but sellers have recently become active on the stock. This cannot be called a strong downtrend, specially if selected time duration is small

Weekly Price action analysis of Mahanagar Gas based on a short to mid term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

Mahanagar Gas (MGL) Monthly technical analysis

Date Monthly Close Open Range Volume
27 Wed Jan 1043.60 1062.80 1011.35
1147.35
173.928 lakhs
31 Thu Dec 1061.20 1063.90 989.70
1098.70
211.872 lakhs
27 Fri Nov 1063.90 816.50 809.10
1068.40
286.822 lakhs
30 Fri Oct 814.90 851.25 779.65
874.70
215.523 lakhs
30 Wed Sep 830.05 952.00 812.20
959.95
239.693 lakhs
monthly MGL chart

Monthly forecast of Mahanagar Gas is negative. Sellers dominated the stock this month, and might continue to dominate in coming days too.

Monthly Price action analysis of Mahanagar Gas based on a short term time period is positive, but buyers have become active on the stock recently. This cannot be a definite uptrend, specially if selected time duration is small.

Monthly Price action analysis of Mahanagar Gas based on a short to mid term time period is positive, but buyers have become active on the stock recently. This cannot be a definite uptrend, specially if selected time duration is small.

Mahanagar Gas Daily stock price targets

  • Upside daily target: 1126.45
  • Upside daily target: 1070.95
  • Downside daily target: 1019.2

Mahanagar Gas Weekly stock price targets

  • Upside weekly target: 1175.58
  • Upside weekly target: 1118.4
  • Upside weekly target: 1062.76
  • Downside weekly target: 998.53

Mahanagar Gas Monthly stock price targets

  • Upside monthly target: 1195.8
  • Upside monthly target: 1095.48
  • Downside monthly target: 1038.55
  • Downside monthly target: 979.73
  • Downside monthly target: 914.1
  • Downside monthly target: 853.6
  • Downside monthly target: 812.23
  • Downside monthly target: 749.75

Mahanagar Gas (MGL) indicators technical analysis

Price action analysis of Mahanagar Gas (MGL) based on a short term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

ADX buy sell signal for Mahanagar Gas stock for short term is SELL. Signal strength is Strong and stock is losing momentum.

MACD generated a SELL signal for Mahanagar Gas in short term but the sell signal is initial and weak.

Mahanagar Gas Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are weakening, and bulls are picking up momentum!

Ichimoku cloud is of red color and prices are in or above the red cloud Prices appear to be coming down

CCI has generated a buy signal for Mahanagar Gas in short term but BUY signal is weak.

RSI is generating a BUY signal in short term and the buying is gaining momentum.

MRSI is in negative zone. This is the SELL zone

Although the stock is in the SELL zone, but selling might be slowing down

Stock of Mahanagar Gas is picking up selling momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 1060.94 and Mahanagar Gas MGL stock is trading below this level. This means that stock is falling with high volumes. VWAP is falling down

People seem to be coming out and selling the Mahanagar Gas MGL stock. Volume based technical analysis of Mahanagar Gas MGL stock is negative.

Mahanagar Gas Stock has given negative returns over a short term period. Returns for a longer term period have been negative.

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.

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chart MGL