InterGlobe Aviation Limited

• 23 August, 2024 Ruchit Thakur

InterGlobe Aviation Limited

InterGlobe Aviation Limited expanding and reaching a new high, investing in it appears to be a wise long-term decision.

Kindly take a minute to review and understand the daily chart of InterGlobe Aviation Limited. The chart shows that InterGlobe Aviation Limited has done well so far, is a prudent investment in the 4550–4600 zone, and has plenty of chances to develop going forward.

Please refer to the daily chart provided by InterGlobe Aviation Limited. The stock broke out of the 4550–4600 zone and is now trading above horizontal resistance and gaining quickly. The data indicates that InterGlobe Aviation Limited is currently in great demand at 4650. The range of the expected upside open till 5050 to 5100 is shown in the chart below. 

• InterGlobe Aviation Limited has grown since making a significant breakout in the range of 4550 and 4600, and it is now a great long-term investment potential.
• Given its excellent positioning, InterGlobe Aviation Limited has an opportunity to expand and might go as high as 5050 and 5100 on the chart.
• The best range at the moment to buy this stock is between 4550 and 4600, since the risk-reward ratio is appropriate for cash transactions.
• With a target price range of 5050 to 5100, the chart indicates that the stock has broken out of an ascending triangle pattern.

Please refer to the InterGlobe Aviation Limited daily chart for your reference. Demand is shown in the 4550–4600 price range on the daily chart, along with an upward breakout and horizontal resistance. This high demand causes the stock to rise.

The stock's recent high suggests that now is a fantastic opportunity to buy at the current price. Thus, keep an eye out for the breach of the horizontal resistance. As of right moment, the stock has risen further, reaching its charted targets of 5050 and 5100.  

InterGlobe Aviation Limited was founded by the rising triangle; the pattern's most recent objectives fall between 5050 and 5100. The rising triangle is one chart pattern used in technical analysis. Price variations result in a horizontal line and a rising trend line at the swing high and low, respectively. These two lines create a triangle.

Investors may be searching for long-term purchasing opportunities around the 4550–4600 zone due to the stock's high demand. With a strong risk-reward profile, this stock should rise during stock market dips. Take advantage of every dip to purchase this stock. Take advantage of any downturn to make an investment in this firm as it has a lot of room to develop.

Investors may buy the stock chunk with cash, setting a stop loss at 4370 and targeting levels between 5050 and 5100.

If there is little price volatility before a significant increase, a quick climb and target hit could drive the stock or instrument to high volume and upside. Traders and investors often look for a pattern called a Volatility Contraction Pattern (VCP). For additional information on VCP patterns, please visit our website and download the Fx Careers app from the Google Play Store. We also show that the pattern identification is quite accurate.

The daily chart of InterGlobe Aviation Limited displays both resistance and support. All levels are shown on the spot chart. 

Company Profile: The low-cost airline InterGlobe Aviation Limited, operating under the name IndiGo, is based in Gurgaon, Haryana, India. With 61.6% of the domestic market as of May 2024, it is the biggest airline in India in terms of both passengers carried and fleet size. With more than 100 million passengers carried in 2023, it is the biggest airline in Asia and among the biggest in the world overall. With a fleet of more than 370 aircraft, IndiGo will be operating over 2,000 daily flights to 122 destinations as of August 2024—88 domestic and 34 foreign. Delhi's Indira Gandhi International Airport serves as its main hub.

Rakesh Gangwal and Rahul Bhatia of InterGlobe Enterprises established the airline as a commercial enterprise in 2006. It received its first aircraft in July 2006 and started flying the same month. In terms of passenger market share, the airline rose to the top in India in 2012. Nov. 2015 saw the company's public offering. According to OAG, IndiGo was the fifteenth most punctual airline in the world in 2022.

Disclaimer: This expression is commonly used to convey that the content or material being seen is solely for educational reasons and should not be utilized for anything else. This example is just for educational purposes and should not be used commercially.