InterGlobe Aviation-1-Go long-Mide Term View

InterGlobe Aviation: CMP:3286.80; RSI: 61.0
Script is availabel at very reasonable price. As per Elliot wave analysis the script is middle of 3rd wave pattern formation, which will strech to the first target of Rs: 3830 & final may culminate at 4246, before a wave 4 correction starts.
The mid term target is poised at upwards breakout once close above 3342 (Resistance 1)on closing basis; Second round resistance will be faced at 3468 (Resistance 2)
Target 1: 3830 (2M) ; Target 2: 4246 (2.5M)
Accumulation Zone: 3265-3240 ; Stop Loss: 3226; Suport Level : 3142 & 3016.

Trade active:

It was a spectatcular rally from the script. Resistance 2 (3468) was broken with a ease and script have very well placed above it on closing basis. This resistance 2 should act as an support for the script in near term. Next resistance is placed at 3673. before it conqure to first traget of 3820.
Happy Investing. Trail the stop loss to upward price point of 3340.

Trade active:

Revise the stop Loss upwards to: 3550

Comment:

Its accumulation zone 3700-3740 for Traget 2 of 4246. For all new Investors

Comment:

Trarget 1 reached @3830, within 1 month as suggeste on 24th march 2024
Now keep invested for Traget 2 of Rs 4246 with a stop loss of 3810.
Small retracement may occur during the journey to 4246, charts are very positive and taget 2 may be achieved by 3rd week of next month. haapy inesting. Keep following for the updates