IGL weekly chart looks excellent to make life high and higher high...
Buy for long term with stoploss of 395...
Happy trading...
Thank you,
Vishwajeet Sharma
IGL Buy above yellow line target 480...As per fib 78 percent line...if its sustain and close above 480...its bullish...
Sustain below yellow line...short it....
The stock has an splendid move in last few months. Lately there has been some momentum divergence in the stock, RSI & MACD on the daily charts are diverging with price. Though divergence is does not indicate any trend change, but it has to hold on to important supports to maintain its trend up. Furthermore the bearish engulfing candle reassures a probable detour...
Here, i think that there is a potential upside in IGL (Short position) - 12 Days.
The price currently is Rs.413 and i expect that by 24th January 2020, the price should touch Rs.440
The trendline has been strong for IGL.
If you open the daily chart of IGL, you'll notice that there has been a good support to upward movement.
Disclaimer- These are my personal...
IGL has taken decent support at 423 level and trendline. Holding below that could dip towards 418-->415. Since the 30th of December is critical for IGL, it can prove as a turning point and push the scrip towards 438-->442-->445-->451
Regards,
Sharma Yogesh
