PL Technical Research: BUY INDRAPRASTHA GAS ( IGL ) - TECHNICAL PICK

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

The stock has made a higher bottom formation pattern in the daily chart, taking support at the significant moving average of 200 DMA, which lies at 454 levels, and has regained significantly to indicate a positive bias. We anticipate a further rise from here on to scale up to 535 levels. With the chart looking attractive and with good volume activity seen in recent times, we recommend a buy in this stock for an upside target of 535, keeping a stop loss of 438.