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Price and trend forecast of IGL for Tomorrow, Weekly, Monthly

Indraprastha Gas Limited

Symbol: NSE:IGL

ISIN: INE203G01027

463.10

As on 2024-04-12

375.70 (52W Low) 515.70 (52W High)

IGL's Today's Performance

Indraprastha Gas Limited started the day by opening at 476.00 today 2024-04-12. Its shares reached a high of 476.00 and dipped to a low of 461.90 in intraday. When the markets closed, IGL’s stock price settled at ₹463.10 per share. Also check out its key support and resistance levels.

IGL Buy/Sell Targets

Tomorrow, sell IGL when its price reaches ₹ 463.10 with a stop-loss order at ₹ 468.42. You can set the target price as ₹ 457.78 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of IGL for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for IGL

Resistance Levels Value in ₹
Tomorrow Resistance 1 472
Tomorrow Resistance 2 481
Tomorrow Resistance 3 486

Important Supports for IGL

Support Levels Value in ₹
Tomorrow Support 1 458
Tomorrow Support 2 453
Tomorrow Support 3 444
Based on where the stock opens tomorrow, if IGL opens on a positive note, our first target will be ₹472. If Target 1 is achieved, we will aim for Target 2 which is ₹481.

But if IGL falls below the average value of ₹467.00, you can enter a sell side position with target number 1 - ₹458 and second target - ₹453 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of IGL

Looking at IGL, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, IGL has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for IGL is moderate bullish.

Tomorrow's Volume based share price Forecast for IGL

IGL's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -5%.

Reversal detection for IGL

Predicted trend chart of IGL tomorrow for price forecast
IGL may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹478 in morning tomorrow
Target 1 tomorrow472
Target 2 tomorrow476
Target 3 tomorrow481
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with IGL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if IGL opens on a positive note, our first target will be ₹472.10. If Target 1 is achieved, we will aim for Target 2 which is ₹481.10.

But if IGL falls below the average value of ₹467.00, you can enter a sell side position with target number 1 - ₹458.00 and second target - ₹452.90

IGL's Weekly Targets
1st Up Target 477.83
2nd Up Target 492.57
1st Down Target 453.23
2nd Down Target 443.37

As the week for IGL ended on bullish sentiments, we can expect further continuation of this sentiment. IGL's initial target will be 477.83 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 453.23 in the upcoming week.

Weekly OHLC Values
Open 461.90
High 482.70
Low 458.10
Close 463.10

Week for IGL started with an open price of 461.90, and the close was at 463.10. IGL reached the highest of 482.70 and dipped lowest up to 458.10 last week. This indicates a bullish sentiment for the week.

IGL full month swing targets
Monthly Up Target 1 502.43
Monthly Up Target 2 517.17
Monthly Down Target 1 428.63
Monthly Down Target 2 394.17

Targets of ₹502.43 can be expected to be reached in the coming month. Once IGL achieved this target, we can aim for the next upside target of ₹517.17.

IGL if fails to hold upside, down targets of ₹428.63 and ₹394.17 can be achieved by end of this month.

For complete three weeks if IGL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as IGL

Symbol Name Industry
NTPC NTPC Limited Utilities - Regulated Electric
ADANIGREEN Adani Green Energy Limited Utilities - Renewable
POWERGRID Power Grid Corporation of India Limited Utilities - Regulated Electric
ADANIPOWER Adani Power Limited Utilities - Independent Power Producers
TATAPOWER Tata Power Company Limited Utilities - Independent Power Producers

Summary

IGL is expected to reach the target of 472.10 in tomorrow's trading session.

After achieving the initial target in IGL, we will aim for higher targets of 481.10 tomorrow.

However, if IGL starts to trade below ₹467.00, then we will shift our focus to the sell side and aim for down targets of 458.00 and 452.90.