IGL trade ideas
#IGL Cash : Looks good above 541.10#IGL CASH -Positional for 3-4 days
12.08.2021
Looks good above 541.10
stoploss 528
Target 554/568
Cmp 536.65
#IGL bullish harmonic updated Bullish Bat Pattern
(Long Term Invested in CASH- Add in parts
PRZ-515.
Add 30% near 520
Add 30% near 515
Support 500
CMP:535 @ August 6,2021
LONG IGLSwing trader mush include this trade in the portfolio.
with a stoploss of 508 for the target of 5-10%
igl - buyBuy from cmp to 508
easy target 535
Disclaimer : This is my personal analysis for study purpose not intended for trading
GAS EXHAUSTED!!Seems so. Everything on the chart. However this is my take- not a trading recommendation. Do your own analysis before jumping into action.
IGL Short term longNSE:IGL looks good for short term with earnings coming up.
Target 1 - 581
Target 2 - 594
Stop loss - 533
To avoid risk you can trail stop loss at trendline too.
If the earnings are positive then Target 3 -610
Indraprastha Gas Trade ideaBrokerage targets
2021-07-07 Prabhudas Lilladher Buy 561 662
2021-07-07 ICICI Direct Hold 550 595
IGL underperformed the broader index by 20% over last one year, as
restricted vehicular movement during pandemic hit FY21 CNG volumes by
22.5%YoY (CNG accounts for ~70% of IGL’s overall FY21 volumes). However,
we expect CNG sales to rise going ahead given 1) receding pandemic
concerns, 2) expanding vaccination coverage, 3) continued preference for
personal mobility, 4) favorable fuel economics (CNG ~70% cheaper to petrol)
and 5) introduction of 1,000 new CNG buses in Delhi will drive 23% CAGR
volume and earnings over FY21-23E
How to trade in and out of a sideways range?Horizontal price movement is seen when the powers of demand and supply are roughly equal, thus forming a "sideways trend". This usually occurs during a period of consolidation before the price continues a prior trend or reverses into a new trend. A sideways trend is also sometimes referred to as a "horizontal trend".
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An important indicator is volume, which usually remains flat during a sideways trend as the bulls and the bears balance out each other. A surge in volume is seen when the breakout or breakdown is expected to occur.
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Ways to profit from a sideways trend :
1. Typically traders will try to capitalize on breakouts or breakdowns, to try and ride the momentum in the direction of the break, thus generating profits. But breakouts are prone to failures, so a more prudent approach can be to wait for a re test of the level price broke out from and then initiate the trade.
2. If the price regularly rebounds from the support and resistance levels as can be seen in the chart, traders may try to buy the security when it nears the support levels and sell it when the price nears resistance levels.
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Now, as we can see that the price of IGL was bouncing around in the sideways channel. It failed to move past 545 on 09.04.21 and 11.06.21. Similarly it bounced back from 500, at 5 occasions, on 25.03, 06.04, 19.04, 30.04 and 21.05.21. It finally broke out above 545 with above average volume on 29.06.21 and soon made a high of 584.
It travelled almost the width of the range after breaking out as is expected. And then it started pulling back and has touched the top of the range. A continuation candle with strong volume has occurred now.
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A long can be initiated with the following levels in mind if the price sustains above the "LONG ABOVE" level for 15 minutes.
LONG ABOVE: 548.70
STOP LOSS: 534.80
TARGET 1: 562.60
TARGET 2: 576.50
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Trade your plan and manage your risk effectively.
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IGL (going to reach resistance zone)NSE:IGL
IT IS MY OWN ANALYSIS ..
LET TELL YOUR OPINION ABOUT THIS STOCK.
IGL, long above 548. IGL is back towards its support and we can clearly see the demand for the stock at this level.
SL's should be placed right below the last swing low in formation, i.e. 535-537, keep on trailing your stops for a good momentum on the upside.
FIBBONACCI RETRACEMENT 0.618 FIB LEVEL SUPPORT INDRAPRASTHA GAS LIMITED TOOK SUPPORT AT 0.618 FIB LEVEL AT DAILY TIME FRAME POSSIBLE TARGETS FOR SWING CAN BE NEAR TO 570/-
NSE:IGL
IGL TRENDLINE RETESTING 1- given breakout of traingle pattern with good volume
2- succesfully retested the trend line with good volume again
3- candle stick pattern : made bullish engulfing pattern
4 - pure price action
SL: consider the trendline as stop loss
TGT: 580
