Interglobe Aviation CMP:4256.50; RSI: 62.43.
Indigo results has been pretty decent and yet again beat the market expectations. Profit booking is seen immediately after that, which is good sign and good opportunity for those who doesn’t hold the shares yet, also a good price point to accumulate. Indigo is undoubtedly enjoying the monopoly scenario for another 1-2 year before TATA led Airlines gives a competition to the status quo. Chart analysis shown, Indigo is in 3rd Impulse wave and will take this script to a price point of 5550 before the FY24Q1 results. The traders can play the script for immediate target of 4754 (10% upside), while short term target of Rs 5120 is very possible in a months’ time.
While the investor should buy at current price with a stop loss of 3975 for a target of 5550.
If, the target of Rs 5550 is not met before the August first week, profit booking is advisable to all my followers and investors who are long in this script, as promotor ( Gangwal trust) may again look for reducing their stake in the airlines.
✅If you resonate with the Idea presented, pls Share, Like & boost ideas and follow to never miss a new idea! ✅
Indigo results has been pretty decent and yet again beat the market expectations. Profit booking is seen immediately after that, which is good sign and good opportunity for those who doesn’t hold the shares yet, also a good price point to accumulate. Indigo is undoubtedly enjoying the monopoly scenario for another 1-2 year before TATA led Airlines gives a competition to the status quo. Chart analysis shown, Indigo is in 3rd Impulse wave and will take this script to a price point of 5550 before the FY24Q1 results. The traders can play the script for immediate target of 4754 (10% upside), while short term target of Rs 5120 is very possible in a months’ time.
While the investor should buy at current price with a stop loss of 3975 for a target of 5550.
If, the target of Rs 5550 is not met before the August first week, profit booking is advisable to all my followers and investors who are long in this script, as promotor ( Gangwal trust) may again look for reducing their stake in the airlines.
✅If you resonate with the Idea presented, pls Share, Like & boost ideas and follow to never miss a new idea! ✅
Comment:
Indigo is one of the best stock in class and has shown good resistance and trading within the plotted channel as shown on the charts. It has bounced back to resume its upward journey, sailed through comfortably in most volatile week of the Indian markets and bounced back. Chart structure is intact, small correction because of this political turmoil may pull the share near to 4000 levels. All such opportunities should be immediately grabbed for the accumulation.
Comment:
Tomorrows block deal will be a good chances for the new investor's to make fresh position into the stock, which is bound to happen at floor price at Rs 4266/share is at a 6.5 percent discount to closing price of Rs 4562.55/ share @10/06/2024.
Comment:
It a good time to grab Indigo share and accumulate at every 50 Rs Dip. Indigo is facing headwinds as the promotor has offloaded 2% stake coupled with recent announcement from the Aviation Ministers' to cap the domestic airfares, has stalled the rally for a moment. Chart Structure is intact, and so the business model
