SO IGL is very bullish now may be is going to be correct in coming session, go Long when there is breakout or wait till correction is over for going long, may be a nice trade for shorting...so bull wait & watch for right time cheers..:) in.tradingview.com
Running late in the bulls camp shall not make one happy as indices are posed for correction in coming days in early 2017 so keeping that in mind, IGL is no different than others & It has been close to finish its blue wave-3 in the zone 940-960 where it travels 200% of its respective wave-1 & can over shoot as well, but be careful when you see this stock getting...
IGL a stock which is powerful on monthly and weekly. is not a stock to short for big money, not until 882 is accepted. 790-880 which was a trading range for IGL in 4hours charts was successfully broken by a WRB(wide range bar) and got a good follow up. now a spining top is formed and a small bearish inside candle followed up.
Expect a test of 882 which was the...
IGL opening around 2-3% up.. stock have resistance at level 840-850... then stock will move down or if able to break resistance then you can see 10-15% in today or 1 day
IGL is trading in a channel. Blue Lines will act as a support or resistance.
How to trade,
For short term, Trade the channel.
For long term/Positional - We will trade the breakout.
Keep an eye guys :)
Consecutive flag pattern in Indraprashta gas limited......
Go long once it breaks flag... even 900 levl can be seen within short time (2-3 days) with strict stoploss of 838.
