MGL Long. Target 1040-1050.

Fundamentally, this scrip is very strong and very good long term investment. Macro scenarios are in favour as energy will be in high demand in future. The October gas price review came as positive for city distribution companies, market was expecting 100% hike in LNG , but got 40%, which is good for IGL , MGL , GUJGAS .

Technically, made a doji at downturn of three weeks. Expect fast movement next week. Expect a very big move next week on the upside. It wouldn't be a surprise if scrip achieves 25% up move in a week. For reasoning look at our IGL chart posted earlier.

Disclaimer: This is for knowledge sharing. Consult your financial advisor before investing.

Note: RBI governor commentary is highly positive for Indian market, and in global turmoil, ENERGY and UTILITIES going to shine. This is one of the favourite pick for high returns.