The stock of Indraprastha Gas, which declined in January, appears to have formed a base at ₹185. The price action now, especially after gaining well over the past few sessions, is showing bullish signs. Although there is a resistance ahead at ₹205, we expect the stock to surpass this. Such a move will confirm a double bottom chart set up, indicating a potential bullish trend reversal.

This pattern indicates a rally to ₹225. Nevertheless, there is a resistance at ₹222. So, once the stock rallies past ₹205, it can quickly move up to the ₹222-225 price band. Therefore, participants can buy Indraprastha Gas at ₹200 and accumulate at ₹190. Stop-loss can be at ₹180. When the stock rises to ₹215, revise the stop-loss to ₹210. Book profits at ₹222.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)