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FAHEEMSAM
Jan 2, 2021 7:04 AM

IGL - RETEST AFTER BREAKOUT - BUYING LEVEL Long

NSE:IGL60
INDRAPRASTHA GASNSE

Description

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I had already shared a the idea, look at the link given below to know why this is a high probable swing trade.

Note:
  • Avoid the stock if a big gap up or gap down is seen
  • Enter after the breakout happens and not before it
  • Do not chase the market, i.e., do not get involved in late entries
  • Only enter with strict stop-loss and target
  • This is not a recommendation and is for educational purposes only.
  • always follow risk-reward and quantity management for the 100% of the times
  • The above mentioned idea may not work, so beware of the risk you are taking


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Happy Trading!!
Trend AnalysisChart PatternsWave AnalysisIGL
Comments
ReviveTraders
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woww 😵💯
FAHEEMSAM
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@tradethetip, PLEASE ALSO LOOK MY OTHER ANALYSIS PROVIDED IN THE DESCRIPTION. THAT ANALYSIS PROVES THAT THIS CAN BE A VERY GOOD SWING OR POSITIONAL TOO
ReviveTraders
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@FAHEEMSAM, yup
shraghu2010
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@FAHEEMSAM, Yes, you are right, IGL is good one to buy seeing the volume.
FAHEEMSAM
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@shraghu2010, Good to hear. The volume indeed helps us to differentiate false breakout from the real ones like IGL
shraghu2010
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@FAHEEMSAM, I have been seeing your charts of IGL from the levels of 380 and we both have interacted too, if you don't mind can you tell me about about MGL , the PE ratio is less compared to IGL and is waiting for a breakout like IGL if the cost of oil and gas raises, volume of MGL is good from last week, I would like to your analysis of MGL..
FAHEEMSAM
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@shraghu2010, sorry for being late, I was planning to publish an analysis on MGL, but it was not ready yet. Now I guess it's ready to break the range. If you notice it had been trading In a range for so long so it can be a good buy from here if it breaks out. Hope this simple explanation helps and also I am sure the same analysis you may also have found, but thanks for asking.
shraghu2010
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@FAHEEMSAM, Thanks for your feedback, yes yesterday MGL sustained above 1080 which is a good sign, it may hit 1133 in a couple of trading days if the market sustain this week expiry, hoping and keeping fingers crossed.
shraghu2010
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@shraghu2010, do you still think igl and MGL have got steam to rally further?
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