Shares of InterGlobe Aviation Ltd (IndiGo) have shown strong momentum after breaking out from a Symmetrical Triangle pattern on the daily charts. The stock bounced back from a double bottom pattern formed in January 2025, and recently broke above the upper trendline of the Symmetrical Triangle, signaling a potential bullish move in the near term.
Short-term traders are advised to consider buying IndiGo stock with a target price of Rs 4,900 over the next 1-2 weeks. Experts suggest that the breakout could lead to further price appreciation, especially given the stock’s historical performance. The airline stock reached a record high of Rs 5,033 on September 12, 2024, but failed to maintain the momentum and closed at Rs 4,695.
The recent upward move, following the break from the symmetrical triangle, indicates that the stock might be poised for another rally. Traders should watch for any signs of price consolidation around the Rs 4,700 mark, as this could serve as a crucial support level in the short term.
Given the volatility in the aviation sector, it is essential for traders to stay alert to market conditions and potential news that could impact the airline’s stock performance. A target of Rs 4,900, as suggested by analysts, could materialize if the breakout sustains, but it’s important to monitor the stock closely for any signs of weakness or reversal.