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
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.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
IGL is bouncing off again from its medium term support, same as it did a month and a half ago. The stock bounced off this support the last time, went to the resistance at 580 and came back to its support. The stock's price action today is indicative of a bounce again at this trend line and 200DMA support. The candle formation is also of 'morning star' type with...
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 has down drastically from the all time high, it did not cross the previous support and came down and moving around the resistance area for sometime.
NSE:IGL
Observations:
1) On Daily time frame it has closed above 200DMA which is placed at 529.62 level.
Please refer below chart : Daily Time Frame.
2) On Daily time frame, it made morning star candlestick pattern.
For positional long trade for short/mid term, one can take positon on breakout of 535 level for target of 558,571,590 with SL of 520.
...
![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]")
![IGL: Simple Trade Setup | IGL | 04-10-2021 [INTRADAY]](https://s3.tradingview.com/a/a5HiNfRK_mid.png "Simple Trade Setup | IGL | 04-10-2021 [INTRADAY]")
