Hero of the dayIGL, today, showed rally over 5 %. The reason being over 100% change in OI.
The stock seems to be bullish over coming few days.
IGL trade ideas
Igl short Price of igl is wandering in 375-381 zone for a few time ,
According to probable set up ,if we bet on shark pattern leg d completion, then trade would be profitable as due to high risk reward ,
IGL.. rally over?IGL has tested its previous high and dropped
current it is an rising wedge and looks like has broken it
short at cmp or on rise with SL at 336
Breakout with good volumeOn 16th August, the stock has gained by 3.5% in a day. That is the “Triangle” and “Trend Line” breakout, volumes are too good. The stock was trading in lower low & lower high and this trend has broken on last trading day. It is looking good long for next 5 to 10 trading days. There are chances to open gap up, we can buy 50% quantity at the opening price and the remaining 50% on the correction. Looking good buying zone between a range of 315-320. Keeping stop-loss of 305 and targets are 340-350. The lifetime high is 350, if it is broken and close above then targets are looking big i.e. 370-400.
IGL Short Setup [Intraday]NSE:IGL had gone up 4% after market open due to good Q1 earnings which was released late on Wednesday after market hours.
There is a zone at 332.85 from where we can witness profit booking which should help in achieving our first TP which is 2:1
Entry at 332.85 with SL 334.65 and first TP at 329.20
Note:
Please Consult Your Financial Advisor Before Taking Any Decision
Always risk 1% of account size per trade, adjust the position size accordingly
