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(MGL) Mahanagar Gas complete technical analysis [charts+indicators] | Buy/Sell Mahanagar Gas | (MGL) share price targets

Complete technical analysis of Mahanagar Gas (MGL) by charts plus indicators, forecast predictions and share price targets for Mahanagar Gas (MGL)

Showing technical analysis as on 2024-06-06 View latest technical analysis

10 day averaged volume of Mahanagar Gas is 482387

Date	Daily Closing Price	Open	High	Low	Volume
06 Thu Jun 2024	1360.20	1327.70	1379.90	1324.95	0.701 times
05 Wed Jun 2024	1314.70	1301.15	1323.95	1260.00	0.984 times
04 Tue Jun 2024	1262.95	1379.95	1379.95	1180.35	2.038 times
03 Mon Jun 2024	1378.60	1350.00	1390.15	1319.75	2.77 times
31 Fri May 2024	1298.00	1287.00	1314.10	1280.00	1.59 times
30 Thu May 2024	1280.90	1306.95	1307.15	1274.00	0.515 times
29 Wed May 2024	1303.80	1286.00	1305.15	1282.55	0.426 times
28 Tue May 2024	1294.15	1310.00	1310.00	1282.25	0.398 times
27 Mon May 2024	1304.95	1305.90	1316.00	1288.60	0.548 times
24 Fri May 2024	1291.05	1292.00	1302.00	1287.30	0.243 times

Although my analysis for stock is bullish for shortterm, but stock is over bought and there are high chances of some profit booking tomorrow. You might want to sell the stock tomorrow in intra day with a stoploss of 1361.7, for a target of 1331.2 or 1305.81

Share price targets for Mahanagar Gas (MGL)

Target Type	Value
Downside Target	1180.35
Downside Target	1257.00
Downside Target	1316.00
Upside Target	1365.65
Upside Target	1390.15
Upside Target	1435.70
Upside Target	1443.95
Upside Target	1474.00
Upside Target	1496.00
Upside Target	1554.30
Upside Target	1580.00

Intraday share price targets for Mahanagar Gas (MGL)

Target Type	Value
Downside Intraday Target	1230.32
Downside Intraday Target	1100.43
Upside Intraday Target	1440.12
Upside Intraday Target	1520.03
Downside Intraday Target	1310.23

Weekly technical analysis of Mahanagar Gas (MGL)

Date	Weekly Closing Price	Open	High	Low	Volume
06 Thu Jun 2024	1360.20	1350.00	1390.15	1180.35	1.868 times
31 Fri May 2024	1298.00	1305.90	1316.00	1274.00	1.763 times
24 Fri May 2024	1291.05	1319.80	1319.80	1286.35	0.46 times
18 Sat May 2024	1319.80	1335.90	1335.90	1269.50	0.609 times
10 Fri May 2024	1300.35	1434.50	1443.95	1257.00	3.113 times

Price has moved up this week, and volume has increased substantially. This means that the move can continue in coming weeks.

Monthly technical analysis of Mahanagar Gas (MGL)

Date	Monthly Closing Price	Open	High	Low	Volume
06 Thu Jun 2024	1360.20	1350.00	1390.15	1180.35	0.358 times
31 Fri May 2024	1298.00	1445.00	1474.00	1257.00	1.067 times
30 Tue Apr 2024	1443.50	1368.50	1496.00	1365.65	0.384 times
28 Thu Mar 2024	1364.05	1498.95	1580.00	1201.00	2.54 times

Scroll below to view daily charts

Price has moved up this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Mahanagar Gas (MGL)

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.

Price action analysis of Mahanagar Gas ( (MGL) ) based on a short term time period is positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

Price action analysis of Mahanagar Gas ( (MGL) ) based on a short to mid term time period is positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

Price action analysis of Mahanagar Gas ( (MGL) ) based on a mid to longer term time period is neutral. A longer time frame might give a better analysis.

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

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

MACD line is moving upwards which means that SELL signal is weakening, and buying is picking up momentum.

Mahanagar Gas Stock in short term is moving inside a range for now. Please check in a day or two to for a better buy sell signal. Bulls are getting tired and bears are picking up momentum.

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

CCI has generated a buy signal for Mahanagar Gas in short term and BUY signal is strong.

RSI is generating a SELL signal in short term but selling is losing 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 1318.18 and Mahanagar Gas (MGL) stock is trading above this level. This is a good sign for the stock and it could move higher. VWAP is rising upwards.

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 is giving positive 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.