Breakouts –IGL , MGL. BounceBacks–Biocon & M&M Financial

A few interesting chart formations.


Gas Stocks nearing a breakout.  ( Even in a GAIL, Gujarat gas showing strength)


Indraprastha Gas -  Triangle breakout

  • Range contracted to almost 20-30 points from 505-530
  • Multiple bottoms.
  • A breakout done today.

IGL Blog


MGL – A big cup and handle breakout in coming weeks ?

  • The last attempt at 1220-1250 failed.
  • Higher bottoms.
  • 1220-1250 a resistance.



Bounce Back stocks

Biocon – Base set now time for some bounce.

  • 370 an important support with multiple bottoms.
  • Today a first indication of reversal.
  • Momentum above 395




M&M Financial – Deep correction in current lockdown. Retesting major supports.

  • 150-155 is the last breakout point as well as a major support.
  • A steep correction from 200-220 to 150-160.
  • Above 165 can see a quick bounce.

M&M Finance


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DISCLOSURE Nooresh Merani

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