The outlook is bullish for InterGlobe Aviation (IndiGo)The stock has been moving up over the last three days. It has begun the week on a positive note by rising over a per cent on Monday. The 21-Day Moving Average is giving good support over the last two days. This support is at ₹3,155 now. The price action over the last two days indicates the presence of strong buyers near this support level. InterGlobe Aviation (IndiGo) share price can rise to ₹3,380 and ₹3,450 over the next few weeks. Traders can go long now at ₹3,248. Accumulate on dips at ₹3,210. Keep a stop-loss at ₹3,120. Move the stop-loss up to ₹3,280 when the stock moves up to ₹3,310. Move the stop-loss further up to ₹3,370 when the price touches ₹3,395. Exit the longs at ₹3,430.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)