Biocon - Buy
IGL - Buy
IGL - is displaying a positive outlook on the daily
chart. The stock has tested inverted Head & Shoulder neckline & bounced
back on the daily chart and on the daily chart, the RSI indicator has showed a
positive crossover with its price, which is the sign of strength. On the hourly
chart, the stock is trading above 20 & 40 hourly SMA. Resistance level
placed at 297. If that resistance level breaks, then the stocks will rise
towards 303 – 315 – 323 which is 100% - 138.2% - 161.8% extension level of
recent rise. The strong support
level placed at 285.
Recommendation:
Traders can buy at CMP (291.85) to 290 levels with a
stop loss of 285 (Closing basis) for target of 303 -315 - 323 levels.
No comments:
Post a Comment