IGL - Bullish Pennant BreakoutConsolidation from all-time highs within clear pennant formation.
Pennant trend lines re-tested multiple times on the up and down side.
Big breakout from the pennant today. To watch and ADD.
IGL trade ideas
swing trade just activating - IGL long consolidationbuy above trend line
best entry - 519
target - 550
stop loss - 510 (closing basis)
Indraprastha Gas should enter a new impulsive wave towards 708Go Long on Indraprastha Gas with a Target of 708.
#Disclaimer: Consult your financial advisor before investing.
IGL : Ready for Breakout?IGL :
> Trading in triangle pattern
> Strong Range bound
> Good Volume in last candle
> RR is favorable here
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
IGL Possible price movementIn this IGL slide, we can see by drawing lines, that there is a small resistance around 520. If it breaks this level, price should move up to 530, which is a strong resistance to break.
IGL - BreakoutAll the gas stocks IGL has not broken out. Forming a good triangle patter, must watch in coming days
Neutral on IGL Here we can see long wicks at support but the selling volume is increasing on the weekly basis.
Nor the bulls nor bears are incharge properly.
Let's see where it moves.
This post is for education purpose only.
IGL: Bullish Triangular waveA formation of Bullish Triangular wave can be seen on the charts of IGL. One should buy the stock at cmp keeping a stop loss of 486 and look for the target of 430/460 & above. The final confirmation of the pattern is above 430. only aggressive traders should buy on cmp while the safe players should wait for the closing above 430.
IGL LONG BREAKOUTIGL can give good upside move towards upper FIBO LEVELS (MENTIONED IN CHARTS) in coming days.
View Negates below 509 levels.
Must have this in watchlist for coming days.
IGL Triangular pattern formation going onWait & Watch.. if levels boken then good unup possible..
As oil & Gas sector up and gas prices might be increasing globally.
IGL | Gann AnalysisIGL | Gann Analysis
The stock has been trading mostly between 496 and 529 levels since the 18-Feb-2021 top | On 14-May-2021, it closed at the juncture of Cube number 512 (8 x 8 x 8 = 512) and trend line support (dotted pink) | A potential action zone
Gann level 529 appears to be a very strong resistance | Price is constantly getting rejected from this level | Price broke above trend line resistance (dotted pink) twice however could not sustain above 529 level
17-May-2021 and 20-May-2021 are important Gann dates for IGL in the coming week | Could be potential trend change dates
Another important support (not shown in this chart) is placed at 501 | Its the LOW of the first month of the year 2021 | Price has mostly traded above 501 since 01-01-2021 baring few trading sessions | Also it is an important Gann Circle projection from the top of 594.85 made on 18-Feb-2021
Support : 501 / 496 / 485 / 474 / 463 / 452
Resistance : 529 / 541 / 553 / 565 / 577
Color codes:
Cube Level : BLACK
45 Degree Gann Level : BLUE
90 Degree Gann Level : ORANGE
135 Degree Gann Level : LIME
180 Degree Gann Level : RED
IGL 1d time frameIGL has been consolidating in a single band for over a month now forming a symmetrical triangle. Wait for the volume confirmation at breakout. It can go up or even down.
Trade wisely...
Trade AccordinglyHit the support, Might go back Up or break the support. Watch the trade and trade accordingly.
Only for educational purpose.
Long IGLIGL CMP - 517
Stop - 500 on DCB
Expectation -
1 - 545
2 - 595
Expected Holding Period - 20 trading days or earlier
