MGL - IntraDay Trade Analysis
Last Updated Time : 02 Aug 25, 12:58 am
Back to IntraDay Trade List📊 IntraDay Trade Rating: 3.7
Mahanagar Gas Ltd (MGL) shows moderate potential for intraday trading today. While the fundamentals are solid, the technical indicators suggest caution due to weakening momentum and mixed price action.
⚙️ Technical & Momentum Analysis
Trend: Price is currently below both 50-DMA and 200-DMA, indicating short-term weakness.
Volume: Today's volume (~6.2 lakh) is below average (7.2 lakh), suggesting low conviction.
Momentum Indicators
RSI: Weak at 37.9 — approaching oversold territory
MACD: Negative at -8.05 — bearish crossover
ADX: Moderate at 27.8 — trend is present but not strong
SuperTrend: Bearish at ₹1,474 — price is well below this level
VWAP: ₹1,478.94 — current price is below VWAP, confirming bearish bias
💰 Optimal Buy Price (Intraday)
Buy Zone: ₹1,358–₹1,365 (only if price shows reversal signs near support)
Confirmation: Look for a 5-min candle close above ₹1,365 with rising volume
Avoid Buying: If price opens above ₹1,390 and fails to sustain — this could trigger a pullback
🎯 Exit Levels
Type Price Range Strategy
Profit Target 1 ₹1,397–₹1,418 Conservative exit near resistance zone
Profit Target 2 ₹1,457–₹1,479 Aggressive exit if breakout sustains
Stop Loss ₹1,348 Below recent support and intraday low
📈 If You Already Hold MGL Today
Exit Signal
If price fails to hold above ₹1,365 and volume drops
If MACD diverges negatively or RSI dips below 35
VWAP Breach: Exit if price fails to reclaim ₹1,478 VWAP with bearish candle confirmation
Reversal Zone: Watch for weakness near ₹1,418 — this is a key resistance level
🧠 Final Thoughts
MGL is not ideal for aggressive intraday trading today due to weak momentum and low volume. However, range-bound scalping between ₹1,358–₹1,418 may be viable with tight risk controls. Avoid chasing breakouts unless volume and price action confirm strength.
Would you like a comparative setup for other utility sector stocks like IGL or GAIL for intraday trades?
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