IGL triangle breakdown and Reversal from Demand Zone

In IGL we saw a symmetrical triangle breakdown and Reversal from Demand Zone, now it can enter in triangle again.. Targets- 492,504,521, SL- Below 470

Disclaimer: author may enter in trade, take your own decision , This is an trading idea not an trading or Investment advice.

Comentário:

Terrible market fall today, almost 3.5% due to this all stocks hit SL and broke supports, but this stock is good and can still reverse

Comentário:

T1 hit, missed T2 barely and made high of 501.5.
It is possible for price to go down and face rejection from around 485 levels, closing above 504+ will be strong for the stock and can start its bull run.

Market are highly volatile and now is the time to be cautious
if it falls down below 480 level then we can see shorting opportunities for target 475 as it is still good support, but it all depends on market and for shorting it is advised to study chats in 1 min/5 min/15 min timeframe and see any bearish pattern appearing then only short because targets can change and the bear run could be stock consolidation and be a trap for sellers

Comentário:

In higher timeframes IGL is forming round bottom pattern and also ascending triangle, this is a solid signal that it will break resistance of 520 to go huge, if closes above 520 with volume, long term target update- 700 for now to make all time high!

Trade fechado: objetivo atingido:

Made high of 519.5, if it closes and sustains above 520 then it will definitely go up more