MGL Daily Chart - Stock has been in a down trend along with all stocks from the sector IGL and GujGas.
MGL has came to a gap support zone of 972-938 range and the company also announced its results this last week and did not see any further drop in prices. Similar pattern was seen in GujGas, it also did not slide further post result announcement and the stock is also down a lot from its recent highs.
MGL Weekly chart -
Stock on weekly chart has seen a halting candle on weekly timeframe and at a pullback low around 989.7
AVWAP references in MGL
1) AVWAP from listing day
2) AVWAP from recent high
Disclaimer- I have open position in MGL in cash segment and have 1100 CE short CE in NOV series.