Daily Chart
·
IGL is on the verge of a 8 – month downtrendline
breakout
·
The MACD cross over above zero line also
indicating the strength in the trend on upside
·
The counter is above 21 – EMA (264), 50 – WMA
(260) and the rising delivery based volumes showing signs of strong buying
·
The stock can be accumulated around 270 - 275
for targets of 297 and 311 with a stop loss of 258 on closing basis
Raju V Angadi
Equity Research Analyst
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Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets
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