IGL May Hit All Time New High

Indraprastha Gas Ltd (IGL) stock have been in the uptrend, made a high of 344.9. But the stock is down over 28%. This stock have retraced around 38% from the low of 2015 to the high of 2017. Stock have rebounded from the long term support of 100 EMA. On daily chart we have noticed bullish divergens that is signaling a bullish momentum in the stock. On weekly chart MACD is about to form a bullish crossover. The breakout of falling wedge pattern would push the stock to a new high. A long term investor would like to place Stop Loss below the long term support of 100 EMA.

In next few months we are expecting new high in the stock.