IGL.. Euphoria?IGL has been a stupndous stock for the bulls
has it reached its long term resistance? time to take of some profits for long term investors..
IGL trade ideas
[Intraday] IGL weekend theory Entry and exit as per charts
Target I as per fib 0.38
Target II as per fib 0.50
IGL Rising Wedge Formed....IGL Rising Wedge Formed.
Both Side Levels Mentioned.
Long Above 499.5, SL 495.5
Target 509.50
Short Below 495, SL 499.2
Target 492/490/487
IGL Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Forecasting Possibilities ( Exploring Un-sean ) The most important for Analyst is to identify the next possibilities
what are the best complex or non-complex pattern can arise when scrip reach to certain price level
Analyst have to understand the past , and have to look in the present and have to forecast the feature
Forecasting is an Acquired knowledge after deep practice in the analytical process ( Not tweeter post copying )
As Analyst one has to have an ability to identify the current status , and then incomplete patterns and once
the incomplete patterns completed , expect the next movement in an alignment of previous trend
Here in this i am looking as 3 wave simple wave 4 formation from its recent move up ( an initial clean simple understanding )
it has two distinctive possibilities ( Function of Time )
Function of time is usually an side way move where the price is regulated and time is consumed
01) it can complete current pattern and then move up
02) it can extend the side way correction in to multiple three wave pattern
which one will happen i have no idea , but these are the two possibilities which are nearest to current 5 wave move
an second view from the prospective of long term charting or price movement it is still due for up side move which i am forecasting it as
its in 3 wave impulse wave which has to complete further price movement ( Function of price )
one can look for position based on reversal or buy set up and look to trade in all the up-coming aspects
IGL . OOOPS !!!!!! Check the important levels.Daily Breakout done .
Important levels marked.
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Long One can look for entry in cash , as Future spread is very high and this scrip has lots of volatility
and book near take profit using Trailing stop on 1 Hour candle low
Indraprastha Gas Ltd - IGL - Potential upside from 413 to 440Here, i think that there is a potential upside in IGL (Short position) - 12 Days.
The price currently is Rs.413 and i expect that by 24th January 2020, the price should touch Rs.440
The trendline has been strong for IGL.
If you open the daily chart of IGL, you'll notice that there has been a good support to upward movement.
Disclaimer- These are my personal views and not a trading advice. Do your research before trading or investing. I/we are not liable for any loss that may occur. Trading involves high risk and should be done cautiously. (Also, enjoy the process, with every Gain/ (Loss), you get some insights which should be analyzed in detail and taken a note of. Let's grow together as a community and spread knowledge.
IGL.. time for correction?IGL has been a strong stock.. and has reached 1.618 extension.
weekly close below 426 can trigger a correction..
IGL AnalysisIGL has taken decent support at 423 level and trendline. Holding below that could dip towards 418-->415. Since the 30th of December is critical for IGL, it can prove as a turning point and push the scrip towards 438-->442-->445-->451
Regards,
Sharma Yogesh
#DOUBLETOP #UPTRENDLINE #BREAKOUT #RSI #DIVERGENCEShort Below 420 Rs By Keeping SL Above 440 Rs For Target of 400 - 380 Rs.
indraprastha gasNSE:IGL
levels for friday..
keep eye on this post as i'll gonna update stoploss, once our call executed
IGL: W PATTERN BREAKOUTW pattern breakout today on daily candle.Corresponding volume suggesting breakout.
Daily candle also crossed weekly resistance range of 425-431(SHOWED BY BLUE ZONE),
THOUGH not that convincingly.
LONG ABOVE 435, SL 430, TARGET 441/445
