Not a technical view but this call is based on fundamental work being done by MGL across Mumbai, Thane, kalyan and dombivili.
MGL has invested heavily to setup gas pipelines across KDMC and TMC limits. These pipelines are being laid in very heavily populated areas and have lot of potentials to generate revenue as people subscribe to piped gas. This may take few year to complete but the potential for profits is very high.
Hence MGL can reach target of 1500 to 2200 in 3 years.
Accumulate on dips. It's currently near its long time resistance a breakout and sustain above resistance can take this share flying or retracement.
No stop loss
MGL has invested heavily to setup gas pipelines across KDMC and TMC limits. These pipelines are being laid in very heavily populated areas and have lot of potentials to generate revenue as people subscribe to piped gas. This may take few year to complete but the potential for profits is very high.
Hence MGL can reach target of 1500 to 2200 in 3 years.
Accumulate on dips. It's currently near its long time resistance a breakout and sustain above resistance can take this share flying or retracement.
No stop loss
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Same is being done by Gail in Bengaluru
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Target 1 of 1500 reached.