Mahanagar Gas Ltd
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MGL 1 Month Time Frame

205
📌 Current Price Context
• Price ~ ₹1,049 – ₹1,070 per share at latest market close. The stock has traded between about ₹1,018 (52‑week low) and ₹1,587 (52‑week high) recently.

📊 1‑Month Support & Resistance Levels (Important)
Immediate Support (Downside Levels)

₹1,016 – ₹1,018 — Significant near 52‑week low support zone.

₹1,032 – ₹1,040 — Minor support zone from recent daily pivots.

₹1,054 — Short‑term support near current pivot zone.

👉 Below ₹1,016 could trigger further test of lower range around ₹980‑₹950 (more bearish extension).

Immediate Resistance (Upside Levels)

₹1,093 – ₹1,095 — First resistance from pivot breakout zones.

₹1,108 – ₹1,110 — Near mid‑range resistance cluster for the month.

₹1,120 – ₹1,130 — Next key ceiling where recent upside moves faced selling interest.

👉 Break above ₹1,130 could open a bullish move to next short‑term range around ₹1,150‑₹1,170.

📌 1‑Month Trading Interpretation

Bullish scenario:
➡️ If price holds above the ₹1,040‑₹1,054 support zone and clears ₹1,093–₹1,095, then look for a run toward ₹1,108‑₹1,120. A breakout above that could signal stronger momentum.

Bearish scenario:
➡️ If price breaks below ₹1,032‑₹1,018, risk expands into deeper support near the 52‑week low ~₹1,018 and potentially ₹950‑₹980 in an extended decline.

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