IGL

IGL has broke out of a falling wedge pattern. The technical targets of that were around 500 and stock made a high of 492 today itself. So technically nothing left in the trade. But if you see the charts carefully today it has recover the entire fall from highs of 489 made on Jan-2015. Total fall from 489 to 375 took place in around 5.5 months and recovery took place in less than one month. The stock is now trading above all moving averages. The Supreme Court verdict which has come today has a great significance as stock is now likely to be re-rated. Today stock made a new life time high. Fundamentally the company is very well managed. The company has consistent record of dividend paying with dividend yield around 1.21%. The stock can be bought on any dips for long term the stock is likely to be doubled from hereon also in 2-3 years.