|Sell Range||338 – 333|
|Target||320 – 310|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||4 – 7%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|333.25||SELL||338 – 333||320 – 310||350||15 – 20 Trading Sessions||4 – 7%|
# CMP on June 17, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 327.
^ The returns are calculated based on CMP#
Indraprastha Gas Limited distributes compressed natural gas and piped natural gas to the transport sector, domestic, industrial, and commercial sector customers. It operates 500 CNG stations, serves 11.02 lac households and operates with 1006 kilometres steel pipeline network.
|Sectoral Index||NIFTY 500|
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock price had failed to surpass the hurdle of last high around 350.
- After resetting the resistance near 350 again during June 2019, the share price made a sharp U-Turn and started falling.
- The turnaround of the price structure presents a fresh selling opportunity in the stock.
TECHNICAL OBSERVATIONS (DAILY)
- Technically the stock had been moving in the Lower top and Lower bottom formation indicating negative bias.
- The stochastic indicator is showing a negative crossover and falling below overbought region which points out for a negative breath in the stock.