IGL is looking good for a break out trade as it has been forming an inverted head and shoulder pattern and consolidating near the break out levels.
On the daily time frame, the stock has given a lower wick rejection after testing 20 DMA.
The stock on the weekly time frame has given a bullish moving averages cross over and good targets can be booked in the stock...
Buy IGL above 422 for trading purpose for target 432-445-460
With sl at 414
For long term by above 422 for target 515-600
Stop loss at 398 NSE:IGL NSE:IGL1!
IGL the gas sector stock
Good stock to buy for positional as well as swing trade
It's just a ABC correction
Now its making flag and pole pattern which is high probability break ought trade
Likhitha Infrastructure Ltd is involved in developing CNG-GAS stations and gas pipelines and also has clients like igl, mgl, guj gas & adani gas.
It started a big rally because of the Indian govt interest in developing a huge network of CNG stations all over India.
Technically, stock gives a strong BreakOut in the Day TF and can make a strong rally in the next...
