NSE:IGL is forming descending triangle and it would be worth a long shot for Dec series. Targets are marked on the chart
SL for longs can be - 205.
Would be best to play in cash or play with long synthetic split option strategy ( Sell put at strike A ( close to SL level ) and buy call for strike b ( potential target level or ATM call option )
Let's see which way the story unfolds. Happy Trading!
Disclaimer -
- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts. - If you're referring to this, please consider this ONLY FOR educational & research purposes. - Past performance is not a guarantee for future predictions - Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion. - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - Do your own analysis and consult your financial advisor before investing.