The share price of Interglobe Aviation has undergone healthy consolidation (Rs. 1860-1500) over the past 10 months. With past two weeks faster pace of retracement, stock has logged a resolute breakout from 10 month's consolidation, suggesting resumption of primary up trend that would help to resolve above multi-year high of Rs. 1898 and eventually shift to a new orbit
Key point to highlight is the stock has entirely retraced past six week's correction (Rs. 1860-1616) in just two weeks. Faster pace of retracement highlights robust price structure, boding well for next leg of up move
On oscillator front, weekly RSI, MACD logged bullish crossover, validating aforementioned positive stance
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Shares of InterGlobe Aviation Limited was last trading in BSE at Rs. 1911.65 as compared to the previous close of Rs. 1907.3. The total number of shares traded during the day was 49840 in over 4261 trades.
The stock hit an intraday high of Rs. 1933 and intraday low of 1895.9. The net turnover during the day was Rs. 95408140.