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Published on 20/03/2019 5:25:48 PM | Source: Choice Broking Pvt Ltd

Buy Indraprastha Gas Ltd For Target Rs.335 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Oil and Gas Sector #Indraprastha Gas Ltd #Trading Report #Choice Broking

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* On a daily chart, the stock has given a breakout of its Upper Band of Symmetrical Triangle formation with above-average volume which indicates a robust upside movement in the counter.

* Moreover, the stock has been continuously trading with its strong support of 21 Days Moving Average which shows a positive trend for the time being.

* Additionally, the volume activity for the last two days was very healthy along with a gain in price which suggests an accentuated buying activity in the counter.

* A daily momentum indicator RSI reading is at 64.18 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in an Approx. one week.

Recommendation

Buy Indraprastha Gas Ltd @302.05-305.10 Stop Loss 290.00 Target 335.00 CMP 305.10

 

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