Why is analyst bullish on IGL, Uno Minda and Petronet LNG? check target

Analyst at Bonanza recommends IGL, Uno Minda, Petronet LNG to buy today; here's why

Stocks to buy today: 

Indraprastha Gas Ltd (IGL) 

Indraprastha Gas Ltd (IGL) has given a breakout of a Descending Triangle pattern on the daily time frame, accompanied by a noticeable increase in volume, indicating a bullish trend. The rise in volume during the breakout highlights strong buying interest among investors. The price has taken support near its 200 DEMA and bounced back, suggesting that this level will act as a strong support zone. Additionally, the stock has managed to close above the 50 DEMA, further reinforcing the positive price structure. 

 

On the momentum front, the RSI is moving northward, supporting the ongoing price action. From a directional perspective, DI+ trading above DI- indicates a bullish setup, while the ADX turning upward after a period of flattening reflects rising strength in momentum.

 

Make smarter market moves with The Smart Investor. Daily insights on buzzing stocks and actionable information to guide your investment decisions delivered to your inbox.

Subscribe

Trading levels: 

• Buying range: ₹215–220 
• Stop-loss: ₹202 
• Target: ₹250–280

ALSO READ | Stocks to buy today: Analyst recommends ICICI Bank and one other stock 

Petronet LNG Ltd

Petronet LNG stock has given a breakout of its range on the daily time frame, accompanied by a noticeable increase in volume, indicating a positive trend and reflecting strong buying interest at current levels. The price has also managed to sustain above the 50 DEMA, reinforcing the ongoing bullish sentiment. On the momentum front, the RSI has given a breakout of its resistance zone, supporting the price action and confirming strength in momentum. From a directional perspective, the DI+ trading above DI- further indicates a bullish bias in the stock.

Trading levels: 

• Buy range: ₹284–288 
• Stop-loss: ₹274 
• Target: ₹320–350

Uno Minda Ltd

UNO Minda shares, after giving a breakout from the Inverse Head and Shoulder pattern, rallied nearly 18.53 per cent, followed by a 34-day consolidation in the higher range. In the latest session, the stock has broken out of this consolidation range with a rise in volume, indicating continuation of the uptrend. The price sustaining above the 50 DEMA further reinforces the bullish structure. 

 

On the momentum front, the RSI, after a brief cool-off phase, has turned upward, aligning with the price action and suggesting renewed strength. From a directional standpoint, the DI+ trading above DI- confirms a positive trend, while the ADX trading above both highlights momentum strength in the move.

Trading levels: 

• Buy range: ₹1,350–1,367 
• Stop-loss: ₹1,300 
• Target: ₹1,440–1,500

 

(Disclaimer: This article is by Kunal Kamble, sr. technical research analyst, Bonanza. Views expressed are his own.)