Sunday, December 02, 2012

indraprasth gas breakout 270

IGL breakout 270..
keep eyes on indraprasth gas ltd. (IGL). It has come near its breakout level where it may find some resistance due to 200 dma.
stock is trading in an ascending triangle & since 1st of june, it could not close above this level. If it breaks this level & sustains above 270 for some days then this is good investment opportunity for everyone. stock has well supported at 100 dma as shown in fig. sustaining above 270, my target is 310 in around 2 months. after breaking 270, buy again if u get the level of 260 & follow strict Stoploss of 252.
CMP 265.85