Trade Idea of The Day - Interglobe Aviation Ltd Target Rs.150 - Religare Broking Ltd
Interglobe Aviation Ltd
BUY 28 APR 4500 CALL SELL 28 APR 4700 CALL Interglobe Aviation Ltd Entry Range 90 - 94 Target Range 150 Stop Loss 60
Rationale
* On the daily chart INDIGO has decisively reclaimed the 50-DEMA, indicating a shift in short-term trend and signalling strengthening bullish momentum. Sustaining above this level could attract fresh buying interest.
* On the technical front, price structure shows higher lows formation in recent sessions, suggesting accumulation at lower levels and improving sentiment after a prolonged corrective phase.
* Momentum indicators support the uptrend, with RSI hover above the 50 mark, while the MACD histogram witnessing a positive crossover, indicating strengthening upside momentum.
* As long as the prices holds above the 50-DEMA, it may extend the rally towards the immediate hurdle of 4700 and then 4900 mark, while immediate support is placed near 4400, making dips a potential buying opportunity.
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SEBI Registration number is INZ00017433
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