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...
IGL has formed a flag and pole pattern on the daily time frame.
Nifty oil and gas index has been trading around the recent high and IGL stock can give a good moment following the index.
There is bullish moving average cross over on the daily time frame.
3 point confirmation.
1. Flag and pole pattern.
2. Bullish cross over.
3. Index trading near the recent...
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).
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...
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.
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In the 1-hour chart, MACD has generated a positive crossover in IGL, easily achievable targets are 586 and 595. Take long position guys it will definitely reach our targets. And keep a strict stop loss at 568.
My Favourite pattern for Intraday Trading.. ( Check out my prev post of IGL ) With this strategy...
Most profitable pattern...
Buy and Sell ... Levels mentioned in chart..... Do your own analysis...
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Comment Your Views.... Up or Down ??
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Thank You,
Vishwajeet Sharma
Prev Post Idea...
My Favourite pattern for Intraday Trading..
Most profitable pattern...
Buy and Sell ... Levels mentioned in chart.....
.......
Comment Your Views.... Up or Down ??
.......
Thank You,
Vishwajeet Sharma
![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]")
![IGL: [GENIE IDEAS] INDRAPRASATHA GAS BOOM*](https://s3.tradingview.com/6/6Vl41USU_mid.png "[GENIE IDEAS] INDRAPRASATHA GAS BOOM*")
