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. 410|
|Target Price||Rs. 490|
|Time Horizon||2-4 Weeks|
Intermediate and long term trend is up in this stock. After a moil correction stock is trying to reverse from the previous breakout level which is placed around 430 level. Technically, Stock is trying to reverse from 100 EMA which has been acting as major support in previous days on daily chart clearly show buying interest among the participant in every dip, also a bullish RSI and MACD buy signal has emerged on the daily chart. Due to market volatility we are advising to accumulate this stock between (Rs. 435 – Rs. 438) with a stop loss of Rs. 410 (closing basis) for the target price of Rs. 490. Time frame should be 2-4 weeks.
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