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Mahanagar Gas Update

3 Feb 202111:14 AM

Here is a longer-term chart of the stock. Since it was listed only in 2016 the history is limited which shows an initial rally and then years of consolidation. This shows years of consolidation that probably ended this year. This is of course a presumption based on the PSE index looking for stocks that show impulsive rallies and taking it as the start of a new move. So there is a bias based on an underlying theme. This is the best way we can start something new here. Also if it breaks out of the channel that holds this consolidation then a breakout above 1187 measures up to 2050 based on the size of the channel used for a projection.

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