Technical Analysis:IGL,ICICI Bank,Jindal Saw and BGR Energy

In any particular trade you never really know how far prices will travel from any given point. If you never really know where the market may stop, it is very easy to believe there are no limits to how much you can make on any given trade. From a psychological perspective this characteristic will allow you to indulge yourself in the illusion that each trade has the potential of fulfilling your wildest dream of financial independence. Based on the consistency of market participants and their potential to act as a force great enough to move prices in your direction, the possibility of having your dreams fulfilled may not even remotely exist. However, if you believe it does, then you will have the tendency to gather only the kind of market information that will confirm and reinforce your belief, all the while denying vital information that may be telling you the best opportunity may be in the opposite direction.

IGL

IGL tanked 33% today due to new government regulation which came into effect. For the investor who are rushing in to buy the company refresh your memory for GTL Infra and GTL limited. Both these stocks lost 80% of market cap in matter of days. Well fundamentals of IGL are quiet strong but market has its own mind and never try to catch a falling knife. Let the dust gets settled lets some sanity come in and than commit your money.

As Per technical charts 190 is a good support for stock and stock bounced back from this level. Breaking 190 can see the stock tanking till 150-160 odd levels. Book value of IGL is Rs 125

Buy above 231 Tgt...

Read the Full Story