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
It still seems more like side waves, The triangle formation is weak.
abiraman2015
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isnt it better to enter after it crosses 1782 with strong signal, since it tested that level previously for four time, if not , mind explaining why? i am a beginner
mmohit181
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@abiraman2015, you are right it should cross 1782 vith high volume and close above 1800 then its a trade to enter, here in this breakout volumes were weak as well as financials because of covid