IGL- Short term callSmall trend breakout, buy while retesting the consolidation zone 490-493. Keeping strict SL @ 470 on closing basis.
Targets:- 515, 520, 525
IGL trade ideas
IGL - Buy, SL - 479IGL looks bullish on chart, about to provide a trend line breakout. Maintain strict stop loss.
Disclaimer : Do your due diligence before investing.
Swing Opportunity in Indraprastha Gas LtdGo Long above 476.05 for Targets of 498.1, 520.15, and 542.2 with SL 454
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.618 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
4. There is a resistance zone (marked with red color), which is providing resistance to the stock so we have placed our final target just below it.
IGL || SWING OPPORTUNITYIGL is howering at very crucial support. It may rebound from hereon! Keep an eye!
IGL: SWING PICK OF THE WEEK 🚀🚀🚀Buy IGL at cmp (530) for a target of 602, horizon: 7-14 days. Trading near support level and 200 DEMA. Looks good for long. RR is very good.
IGLIGL
IGL is on a strong support on daily charts followed by strong bullish engulfing candle on 4H starts and a clear divergence on 1H chart indicating a potential trend reversal.
IGLWith increased volum........................................... .......................... ...........
Long IGL above 512IGL is trading within long term channel and above 200 EMA most of the time.
It came below 18th Oct but again looking for inside 200 EMA
if close above 200 EMA then whatever pattern was there for IGL same will get repeat again.
Its slow moving stock and like buy and hold
IGL - RETAIL STOPS RAIDED - LAUNCH INITIATEDIGL starts its bull phase..higher levels soon post the raid
[Positional] IGL Buy Idea Results BetBiren's trade.
Also noticed that IGL has same type of distribution like Maruti.
Amazing pinbar.
450 is hard support. It tested last time too
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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IGL - Positional LongIGL is rising up from the support
Moving average ( MACD) and the OBV is in favour
One can go Positional Long CMP: 482
T1: 520
T2: 560
longlooks good for discounted buy @ current levels 480 target 651 C&H pattern break out small SL =451 closing daily closing basis, great risk to reward ration now.
[ INTRADAY ] IGL LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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IGL Cmp 474 dated 29.10.2021 Bottom out Stock IGL Cmp 474 dated 29.10.2021
1. Bullish Candle @ support.
2. RSI Divergence.
Buy for a tgt of 495-505-525-540-555 SL 450
It is just a view, pls trade at your own risk.
Bullish viewIGL is near in its support zone if its cross the level of 500 then it can be buy with sl of 430, target is 540, 580, 650
double bottom forming w pattern again, looks almost similar as 1st, will wait for confirmation while it
create second bottom for entry, target will be completion of second arm at 535-540.
indraprashtha gas ltd IGL is AT Major support level and from here it can be trend reversal if you see in last trading session a good bullish engulfing candle is form which good sign and if can see the RSI is already in oversold zone after a long time so from here only it may move upward for various level see the chart as i mention all the level there.
Happy Trading
Low risk setup ✌✌✌IGL has reduced in price by almost 23% from it's previous swing high and now is a great opportunity to buy as the stock is on weekly as well as daily trend line support enter around the price of 466 for Target 1 - 517 and Target 2 - 573.
I would recommend reducing position at half at T1 as it is a good resistance and price can fall again from there, if price again falls then again buying opportunity around 460-480 otherwise ride till T2.
IGLIGL should have completed correction and can move up from here.
good risk reward ratio at this point of entry
IGL- Looks weakIGL has broken a trendline and 50 EMA with strong candle.
It will surely take support around 200 EMA i.e. at price around 425.
Target is 425 with SL of 493.
This view is for educational purpose.
