Milan_Vaishnav_CMT_MSTA
Long

Buy IGL above 284 with short term target of 345

NSE:IGL   INDRAPRASTHA GAS
The stock has remained under corrective decline after marking highs near 345 in the beginning of 2018. After remaining under such falling trajectory for couple of months, it has made attempts to resume its up move after taking support near the 100wMA levels. It ha broken out of a falling trend line but saw minor throwback. The prices ended above the upper Bollinger band in the previous week but are seen temporarily pulling back inside the band. Weekly MACD is bullish while it trades above its signal line. Weekly RSI stays neutral against the price but is seen breaking out from a pattern formation while marking higher bottoms. Stock is seen rapidly improving its relative momentum when benchmarked against Midcap Index. Any move below 285 will be negative for the stock.
Please comment on igl now
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Milan_Vaishnav_CMT_MSTA aarti.sagar.gupta
@aarti.sagar.gupta, There is typo in the original text which mentions 285 as SL. We recommend a HOLD on that stock until further update. It has
a breakout with a classical throwback happening. Has strong support in the 268-270 zones.
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