Stock of the day: Buy Indraprastha Gas Ltd For Target Rs. 506 - Religare Broking
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Indraprastha Gas Ltd
* IGL has been trading in a steady uptrend for the last eight months after the breakout from a consolidation range.
* Witnessed marginal dip after retesting the hurdle around 515 levels and retraced to support zone of the medium term moving average i.e. 100 EMA.
* Set for a resumption of the up move, after spending nearly 2 weeks in a range.
* We thus recommend creating fresh longs in the mentioned zone.
Buy Indraprastha Gas Ltd CMP 483.20; Range 482-484; SL 471; Target 506
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