Beruflich Dokumente
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RETAIL RESEARCH
CMP
915
Recommended Action
Buy between 890 and 915
Target
983/1055/1150
Time Horizon
1-4 Months
Interglobe Aviation Limited (Indigo) has been steadily making higher tops and higher bottoms after touching a low of 790 in
August 2016. These levels also correspond to previous major intermediate lows of the stock.
This weeks upmove has led to the stock moving above the recent intermediate highs of 906.8, thereby indicating that the
bulls are having an upper hand on the stock. This weeks volumes have also been above average, indicating that there has
been significant accumulation.
Technical indicators are currently giving positive signals as the stock trades above the short term (13 day SMA) and medium
term (50 day SMA) moving averages.
Momentum indicators like the 14-week RSI are in rising mode and not yet overbought. The 14-week RSI also trades above its
9-week EMA, which is a positive signal.
We believe the stock has the potential to move higher in the coming weeks and months. We therefore recommend a buy at
CMP and adding more on dips. Our entry levels, along with stop loss and targets have been mentioned above.
RETAIL RESEARCH
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RETAIL RESEARCH
RETAIL RESEARCH
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