IGL has broken slow out of a descending wedge . The stock has had a considerable fall after recovering beautifully post COVID. Now, it seems like the stock has slowly begun it's up move again
The Stock has consistently followed pattern breakouts/breakdowns prior to this. (As shown in the chart).
See a long above 420 (safer 425) for the next Fibonacci targets (all mentioned on the chart for you all)
The trade did not activate for safers. For any aggressive buyers, this hit the stop. The mistake in this call was that I did not consider the overall trend of Natural Gas which is important to note before we trade in IGL/MGL. Good to learn from our own mistakes