Indraprastha Gas Limited (IGL) is an India-based city gas distribution company. The Company’s business consists of sale of natural gas. The Company is focused on industrial and commercial business. The Company supplies compressed natural gas (CNG) to the transport sector and piped natural gas (PNG) to the domestic, industrial and commercial sectors in Delhi and the National Capital Region (NCR). The Company offers PNG, which includes methane-CH4, as well as other hydrocarbons.
SHORT TERM PERSPECTIVE
|Company||Indraprastha Gas Limited|
|Stop Loss (SL)||Rs. 370|
|Target Price||Rs. 440-Rs.460|
|Time Horizon||2-4 Weeks|
This is the weekly chart for the recommended stock, from the last couple of weeks stock is trading in correction mode but last week stock reversed from the lower level and developed hammer candlestick pattern , this is bullish pattern in nature. As of now we need to understand that general trend of the market is down as well as so volatile, this will also impact the stock so one should try to buy at lower level between Rs.390-Rs.395 with the stop loss of Rs.370 for the target price of Rs.440-Rs.460 .Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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