Indraprastha Gas can move to Rs 255-256: Thukral

Indraprastha Gas can move to Rs 255-256, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.

Thukral told CNBC-TV18, "All the midcap oil and gas stocks especially the gas stocks yesterday saw a lot of buying happening, so whether it was GSPL, Petronet LNG or for that matter IGL. IGL saw good amount of open interest built up around 8% but the best thing the cost has moved the maximum among all the counters. Therefore I feel that IGL can move from hereon though again seeing the market conditions I have kept a very tight stop loss here."
He further added, "In IGL- the current market price is around Rs 241, we have kept a stop loss of only Rs 236-235 but we feel that this rally can move further up atleast to Rs 255-256 levels, so good amount of profit can be made by the traders."