Buy Indraprastha Gas: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on IGL.

What is the call on IGL?

IGL has corrected and we were calling more corrections for sometime on the stock now. After the correction, it has just gone sideways. It is consolidating above the 200-day average which is at about 380. So that is a nice thing. There is a chance that it might actually break out. Once it does that above 390, we might see a small rally developing over here. 415 to about possibly 428 is the likely target on the upside. The good part of the correction for the stock price is already over. You might see some kind of momentum once this stock trades above 390.