TradingSutra

INDIGO: Bullish Triangle Breakout

Long
NSE:INDIGO   INTERGLOBE AVIATIO
After a long consolidation for almost 6 months , finally the stock has given a breakout of the triangular structure. Assuming wave (e) completed around 1655 , Indigo is ready to give an upthrust out of the bullish triangular wave.

One should buy the stock on cmp and add on dips (if any), maintain the SL of 1655 which is the area of wave(e) and look for the target of 1880/1960/2020

Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
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