Description
⋅ IGL has formed a flag and pole pattern on the daily time frame.
Nifty oil and gas index has been trading around the recent high and IGL stock can give a good moment following the index.
There is bullish moving average cross over on the daily time frame.
3 point confirmation.
1. Flag and pole pattern.
2. Bullish cross over.
3. Index trading near the recent highs.
A swing or intraday trades can be initiated after the break out of the flag.
The view on the stock is bullish and only take a trade on the break out of the flag.
Target :- 440, 460, 471
Stop loss :- 415
Stock will follow the index, keep a look at the oil and gas index too.