MGL – Momentum Breakout with Strong Volumes | Short-Term Swing S

MGL – Momentum Breakout with Strong Volumes | Short-Term Swing Setup
🟢 CMP: ₹1433.50
📆 Date: 17 June 2025
📊 Timeframe: Positional Swing (3–5 Days)

🔍 Technical Analysis
✅ Breakout confirmed above ₹1390 zone with strong volume surge

✅ Series of higher highs and higher lows – clean uptrend structure

✅ Holding firm above short-term 9 EMA & 21 EMA

✅ RSI trending around 65 – bullish momentum, not overbought

✅ Volume spike confirms institutional interest

✅ No major resistance till ₹1465+

🎯 Trade Plan
🔹 Parameter 🔹 Value
Buy Zone ₹1425 – ₹1435
Stop Loss ₹1398
Target 1 ₹1465
Target 2 ₹1495
Target 3 ₹1535 (stretch target)
Risk–Reward ~1:2.5

🔥 Conviction Score: 90%
📈 Price + Volume + Trend + RSI = Perfect breakout cocktail

🧠 Watch out for:

A quick follow-through candle above ₹1435 with volume = momentum confirmation

Avoid if price slips below ₹1398 with strong red candle

📎 Hashtags
#MGL #SwingTrading #BreakoutStock #VolumeSpike #TechnicalSetup #MomentumStocks #NSEIndia #PositionalTrading #StockMarketIndia