NSE:GUJGASLTD
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INDRAPRASTHA GAS - Now Its Reverse Pall and Flag Pattern
AM SHARING MY VIEW ON IGL (INDRAPRASTHA GAS).
Its Consider After GOOD BREAKDOWN WITH VOLUME IN Reverse Pall and Flag Pattern ,
SELL :- Below 350-48
SL :- 380-85 for Short term AND Long Term
*** Target ***
1st :- 328-25,
2nd :- 305-300 (Stong Support) SO Trail Your SL after 300 (March 2022 Result Positive...
IGL is forming a bullish pattern and may give a good breakout above the level of 400. The same kind of pattern was seen earlier also (marked on chart).
IGL looking good above 397 forming inverse Head & Shoulder pattern also trendline breakout there.Looking target 401-405-410++ possible in intraday or in very short term.Keeping on radar IGL 400 CE.
IGL is showing H&S pattern which can lead to targets of 420/450. Considering the demand for Gas and price hike in Gas Sector the burden of price hike is passed on to the consumers which shows the bargaining power of the company.
IGL formed a typical textbook inverse head and shoulder pattern. Its neckline consists at around 400 round number levels. A high volume break above his level can give an exceptional long opportunity. Keep an eye on this script.
Happy Trading :)
Disc: Chart posted only for learning purpose.
IGL is trading within long term channel and above 200 EMA most of the time.
It came below 18th Oct but again looking for inside 200 EMA
if close above 200 EMA then whatever pattern was there for IGL same will get repeat again.
Its slow moving stock and like buy and hold
IGL
IGL is on a strong support on daily charts followed by strong bullish engulfing candle on 4H starts and a clear divergence on 1H chart indicating a potential trend reversal.
forming w pattern again, looks almost similar as 1st, will wait for confirmation while it
create second bottom for entry, target will be completion of second arm at 535-540.
NSE:IGL
Observations:
1) On 1 day time frame, we can see that now it is at very critical level range.
It is make it or break it, now. If it took support then we can see good reversal for uptrend. But if it fails then the down move continue.
Please refer below chart : 1 day Time Frame.
2) On 1 hour time frame, we can see hidden bullish divergence as...
![IGL: Simple Trade Setup | IGL | 12-10-2021 [INTRADAY]](https://s3.tradingview.com/s/sP6t3EB0_mid.png "Simple Trade Setup | IGL | 12-10-2021 [INTRADAY]")
