After the breakout of the neckline at 429, its completed correction move and again ready to move towards its immediate target at 485. We can get good risk-reward in this trade. Downside 429 is acting as support so we can set this as a stop loss for this position.
Possible Trade: Buy IGL above 449.50 Stop loss 429 Target 485 505+
@iamtechnofreak, Price of gas was hiked and all the gas companies stocks hit upper circuit on Friday
iamtechnofreak
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@shraghu2010, yes yes I saw that news now.. yes though the rally was news based but still the it would have gone up due to the analysis too I think.. either way it was a win win. I was holding it and sold it for a nice 15% gain
prasanna.sridharan26
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