Mahanagar Gas Limited

• 17 September, 2024 Ruchit Thakur

Mahanagar Gas Limited

Mahanagar Gas Limited appears to be a prudent long-term investment as it continues to break records and grow.

Please take a moment to review and understand the Mahanagar Gas Limited daily chart. According to the chart, Mahanagar Gas Limited is a smart investment in the 1850–1900 range, where it enters at all discounts and has shown excellent performance thus far. It also offers a great deal of room for advancement.

Please refer to the daily chart supplied by Mahanagar Gas Limited. The stock is currently rising quickly and trading above horizontal resistance after breaking out of the 1850–1900 range. According to the study, demand is currently rather high at 1920 levels. The chart below shows the predicted upward open range, which is between 2150 and 2200.

• Mahanagar Gas Limited has expanded since making a significant breakthrough in the 1850–1900 zone, and it is now a great long-term investment potential.
• Mahanagar Gas Limited's strategic position may allow it to grow and accomplish its goals by the years 2150 and 2200.
• Right now, while the stock's price is between 2150 and 2200, is the optimum moment to buy it because the risk-reward ratio is appropriate for cash transactions.
• The stock has broken out of an ascending triangle pattern, with a target price between 2150 and 2200, according to the chart.

Please see Mahanagar Gas Limited's daily chart attached. On the daily chart, demand is observed in the price range of 1850–1900, with an upward breakthrough and horizontal resistance. The stock price is reflecting the increasing demand.

Given the stock's recent peak, this appears to be a favorable time to buy at the current price. Consequently, keep an eye out for the horizontal resistance to break. As of this writing, the stock has increased and could perhaps reach the anticipated range of 2150–2200. 

As of right now, Mahanagar Gas Limited's goals fall between 2150 and 2200. The rising triangle supplied the structural underpinning for the organization. The rising triangle is an often used chart pattern in technical analysis. Price variations at the swing high and low result in a horizontal line and a rising trend line, respectively. These two lines create a triangle.

Given the huge demand for the stock, investors might be searching the 1850–1900 range for long-term buying opportunities. During market downturns, this company's value should increase due to its exceptional risk-reward profile. Seize the opportunity to buy this stock. Invest in this business; even during recessions, it has a lot of potential.

Wealthy investors can buy the required quantity of the stock and plan to sell it between 2150 and 2200, stopping at 1800.

The stock or instrument may rise sharply on the upside with considerable volume and target hit if there is no price movement prior to a discernible increase. There is still interest among traders and investors in volatility contraction patterns, or VCPs. For additional information on VCP patterns, visit our website or download the Fx Careers app from the Google Play Store. Additionally, we offer accuracy in pattern identification.

The daily chart of Mahanagar Gas Limited shows both resistance and support. Every level is displayed on the spot chart. 

Company Profile: Founded on May 8, 1995, Mahanagar Gas Limited (MGL) is a distribution firm for natural gas in India. MGL is a business venture of the Maharashtra and Government of India's GAIL (India) Limited (Maharatna Company).

Mahanagar Gas provides piped natural gas to 1.53 million domestic households and compressed natural gas to 0.77 million automobiles. In addition to 3342 ST/TMT/MSRTC/NMMT/PMPML buses, over 6580 Tempos, Trucks, and Private buses run on compressed natural gas (CNG) that is distributed throughout a vast network. made up of around 470 kilometers (290 mi) of PE pipeline and 450 km (280 mi) of steel, connecting over 250 CNG stations to 1268 dispensing terminals. In Maharashtra, Mahanagar Gas also operates a few gas stations. It is reportedly one of India's most successful businesses.

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