IGL - Intraday Trading Setup for 9 Nov 2020Disclaimer: All charts are purely for educational and information purpose. Invest or Trade with the help of your financial advisor only.
IGL trade ideas
Trendline Broken having potential to move up to 429TRENDLINE BROKEN
NEXT TARGET T1-417, T2-420, T3-429
TWEEZER BOTTOM IN IGL ON DAILY CHARTIGL Tweezer Bottom (Bullish Pin Bar) on daily chart, before this we had good downtrend in IGL, so it is assumed that now bulls will active in this counter.
Buy IGL with strict sl of 363.5 Target - 390/400/410
IGL - Accummulation - Get ready to enterContinously trading in a small range is an indication of a breakout. A BIG BREAKOUT...........
Buy above 850.55
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for educational purposes only.
always follow risk-reward and quantity management for the 100% of the times
The above mentioned idea may not work, so beware of the risk you are taking
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Happy Trading!!
Weekly levels (19 to 23 october 2020) - IGLshort bias - long bearish candles on downside, and response from buyers poor
Long IGL RR 1:4Details in the chart
SL on daily closing basis
Disclaimer
Do consult your own financial advisor before taking up the trade.
IGL Clear Breakdown following a 3month 2nd BaseEvident Chart, super Bearish
Downside Risk Open to 345 - 330.
Sell on Every Rise, 380 was breakdown level
3 Months of range market - Buy on supportPrice trading inside a range for the last 3 months and it is expected to continue in this month also, as price reached the support last month and moved up to the trend line it is expected to reject here and once crosses the trend line it will head to the resistance level at the top.
Good positional buy in cash !!!
IGL Fresh Break Down may lead Fresh Downside RallyMajor Support Level Break Down
RSI was not above to cross above 60 Level
Closing RSI Below 40 can increase the downside momentum
Rising ADX Crossing above 20 and -DMI took support at 20 indicates that trend may take strength now
Price Action = Formed Lower Swing High and Lower Swing Low
Most Recent Swing high is very near to the Major Support Level
short this stock on after conformationRSI IN WEEKLY IS AT 40 IF THIS LEVEL IS BREAKED NICELY THEN WE GO FOR SHORTING
EVEN DAILY AND 2H CHARTT RSI IS AT 40 WAIT FOR BREAK RSI 40 LEVEL.
IGL Best Risk RewardThe stock is trading in a range and has come to its support. Rsi divergence is showing possible upmove.
