Consider a compelling swing trade opportunity in Indraprastha Gas Limited (IGL) , a leading natural gas distribution company in India.
Reasons are listed below :
Attempt to Break Triangle Pattern : IGL is attempting to break out of a triangle pattern, indicating a potential shift in market sentiment and the beginning of a new trend.
Bullish Marubozu on Daily...
Indraprasth gas is on support level and form strong hammer candle yesterday on 1 day time-frame.
It is looking good for short- term bullish momentum.
If high of hammer is break and today candle give strong closing above the high we look it for bullish swing . And target upto 455
IGL may give Huge Breakout !!
IGL is Making Hut pattern after an uptrend
Possibility of Breakout is huge because its a continuation pattern
We may see huge upside after breaking the resistance
If stock comes down we can see support is around 370-390 level
Breakout confirmation is above 480-500
Current price is around 450
Targets are around 900-950...
EXPANDED FLAT CORRECTION
2- EXPANDING FLAT :
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
•...
Quick movement can be expected in IGL
Below Targets can be expect in 3-5 days
if IGL day closing on (18th Dec), above 406 then more bullish movement targets 435 or 467.
if IGL day closing )on 18th Dec) Below 405 then more Bearish movement targets 375 or 347 .
Use Proper SL as per your comfort.
Please do your due diligence before trading or...
LONG TERM VIEW Company has reduced debt.
Company is almost debt free.
Stock is providing a good dividend yield of 3.05%.
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 39.1%
Hello All,
I am glad you have liked my post and I am sure everyone who have traded on these post would have made profits.
If you like my Idea, Don't forget to Boost and comment on my Analysis.. The recommendations are purely for educational purpose only, consult you financial advisor before trading.
Gautam Khanna
Technical Analyst by Passion :-)
A picture says a thousand words. Well, I have have tried to depict everything i need to say about this stock onto the chart.
To summarize it, we are currently near 61.8% retracement of the impulsive wave we saw in the stock between Mar.2022 till May 2023.A new impulse wave from here (wave 3) is expected to begin that should take the stock towards the 600 mark in...
BUY IGL PRICE @ 389 52% ROI EXPECTED
Buy1 cmp entry @389
Target 1 @575
ROI 1 @ 52
Buy2 Pending entry @ 293
Target 2 @575
ROI 2 @95
Our Unique Features
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4. Risk vs Reward up...
INDRAPRASTHA GAS LTD
Key highlights: 💡⚡
✅On 1Hour Time Frame Stock Showing Breakout of Descending ChannelPattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 392+.
✅Can Go Long in this stock by placing a stop loss below 380-.
POSITIONAL TRADE
INDRAPRASTHA GAS
Looks Good ABOVE 510.70
SL 401.90
Targets 544.30 - 1152.40
Hold few weeks to months
Please consult your financial advisor before investing
All research is for educational purposes only.
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