- Long only if it breaks trendline and moves above inside bar high
- Entered demand zone and is currently indecisive, so Mon/Tue - if there is enough volume then it can break the trendline
- Respect Stop loss - new demand will be created if it breaks the stop loss
IGL has constructed a falling wedge on the 1-day chart in which it has made continuous lower lows and lower highs.
The trend can change from bearish to bullish after the breakout of the resistance trendline. Buyers can expect a bullish move with the following targets: 483 & 504 . IGL Is Bearish below 458 .
Buyers have to break and stay above 504 to increase...
IGL:- Ascending triangle pattern has formed, wait for a proper breakout, till then keep an eye on the stock
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
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Consolidating in a narrow range after giving a strong impulsive move.
It would be interesting to see if it directly continues higher OR comes back to the demand zone before moving back up.
In any case, it should move higher in the coming weeks.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at...
Chart -> IGL Weekly
A wonderful ascending triangle pattern emerged and a breakout happened this week with a long, bullish candle.
Good range: Around 440
Targets: 510 and 580
SL: 415 weekly close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor...
IGL looks bullish on 4h chart.
- Breakout of Triangular pattern.
- Breakout of Resistance at 436.
- EMA 20,50,100,200
+ Moving average lines expanded.
+ All moving average lines are arranged according to their position.
Renko Chart (Brick Size = 5)
- 4 Bricks are printed
+ First 3 bricks formed the...
Key highlights: 💡⚡
📈On 1D Time Frame Stock Showing Reversal of Rising wedge Pattern .
📈 It can give movement upto the Reversal target of above 386-.
📈There have chances of breakdown of Support level too.
📈 After breakdown of Support level this stock can gives strong Downside rally upto below 297-.
- Since Nov 28, the stock has seen some consolidation at current levels
- 21 day EMA and 63 day EMA are at 430 and 415 respectively
- Once above the red resistance zone, the stock can potentially move towards 480 / 502 levels
Depending on your risk appetite and time horizon, you can use the 21 day EMA or 63 day EMA as SL
Take care & safe...
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...
Inverse Head and Shoulders Continuation:
This pattern forms in an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder.
At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large...