Buy Indraprastha Gas; target Rs 565: Bhavin Desai

Bhavin Desai of Motilal Oswal Securities told CNBC-TV18, "In Indraprastha Gas (IGL) there is a conducive pattern on a weekly scale, we could see a pattern getting formed and getting broken out and we have been riding the stock for a while now. I think the last interaction we had, we were at Rs 500 or so and we were looking at a target close to Rs 540. Even though the stock has performed in recent times, it still is a decent buy.""At this juncture also we could go ahead and create longs, people who are holding on to the longs can up their stoploss to about Rs 510 or so and there is a target of about Rs 565. So Rs 510 as a stoploss and Rs 565 is a target, one can go long in IGL," he said.