AbhishekHSinghCMT

IGL- Can attract you to bulls camp 940-960- Be careful?

Long
NSE:IGL   INDRAPRASTHA GAS
7
Running late in the bulls camp shall not make one happy as indices are posed for correction in coming days in early 2017 so keeping that in mind, IGL is no different than others & It has been close to finish its blue wave-3 in the zone 940-960 where it travels 200% of its respective wave-1 & can over shoot as well, but be careful when you see this stock getting rejected at the specified zone-that could put the same under pressure & in that case it will attempt to fall in the zone 775-800 in coming months where blue -wave 4 shall retrace 38.2% of the rise from July2015 lows@490

Intraday going above current high@926- one can get 10-15 bucks above- be careful to book profits in the session.
Trade active: 06:32 Hrs 28th Dec2016

Last Price@891

Running late in the bulls camp--as suggested above. IGL falls from 926 highs to 861 lows & bounces back -Looking for resistance zone 900-910
Hitting in that zone & falling below 900 & sustaining below that can be taken as selling opportunity with the day's high as stops Target zone could be 800-820 zone but make sure it holds below 900 in coming sessions
Trade active: 23:54 Hrs 31st Dec2016

Last Price@918

Going Above High@926 likely there could be a push in the zone 950-960 zone.
Trade active: 14:25 Hrs 3rd Jan2016

Last Price@938

Crossed 926 --- Happy New Year 2017

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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