Mahanagar Gas did give good rally in last two days. But if we look on the very short-term timeframe, then 1700 is the resistance mark for the stock. 1680 to 1700 is the supply zone. Until that is not taken out, excess supply is not absorbed, stock would face hurdle and hiccups in giving a one-way rally.
MCX shares gain 3%, surge 12% in just 5 sessions. What’s behind the sharp rally?
MCX shares rose sharply on Wednesday, extending a five-day rally with total gains of 12%. The surge is driven by rising commodity prices and higher