INTERGLOBE AVIATION-UP FOR SWING TRADEInterGlobe Aviation: CMP:4469; RSI: 69.62
As per Elliot wave analysis, Inter Globe Aviation has completed primary wave-4 formation @ 3780 and motive wave-5 is in its initial phase of expansion. Confirmation of the same will be evident when script give close above 4885 levels on closing basis. A swing trade is poised in the near future with a upside of 15-20%.
Call For Aggressive traders
Buy Zone: 4400-4500
Stop Loss: 4300
Resistance Zone: 4772-4885
Target 1: 5125; Target 2: 5400
Call For long term Investor
Buy above: 4900
Target: 6400 (1 year time frame)
Stop Loss: 4300
Interglobeaviationltd
INDIGO - Interglobe Aviation Ltd. - Break Out OpportunityDate : 5-Oct-2023
Rating : Buy
LTP : Rs. 2473.40
Target : Rs. 2745++
Exit Plan : Follow the 7D/13D EMA cross down on closing basis.
NSE:INDIGO has given a break out from its current short term down trend with high volume. Has closed above 20D MA. 7D EMA has crossed 13D EMA. RSI is above 50 and MACD has crossed over the signal line. All these indicates that NSE:INDIGO is ready to fly and further up move will be seen with a possibility of new lifetime high.
NSE:INDIGO can also be looked from long term perspective with a horizon of 3/5 years. Also time to accumulate more if already going long in this.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.