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.

2020-03-07-Indraprastha-Gas-Limited-Stock-Detail

SHORT TERM PERSPECTIVE

Company Indraprastha Gas Limited
Recommendation Accumulate (Rs.435-Rs.438)
CMP Rs. 440.85
Stop Loss (SL) Rs. 410
Target Price Rs. 490
Time Horizon 2-4 Weeks

 

2020-03-07-Indraprastha-Gas-Limited-Stock-Graph

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.


DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan