NSE:IRB   IRB INFRASTRUCTURE
~~Personal views on IRB INFRA~~

~Neutral on IRB INFRA as long as price remains inside the channel.
~Price is moving in the sideways channel for more than 6 months now. Any move on the upper or lower side will be significant.

~Yesterday gave a close above 200D SMA with good volumes as compared to previous sessions.
~Strong support levels around 100 (Tested Multiple Times).
~Strong resistance around 119 and 128 levels on the higher side.
~A good candidate for medium to long term investment.


~~Do your own analysis before investing~~
~~Feel free to share your views and learning’s~~

Comments

on 2nd june broke resistance levels as mentioned above. can take a position. what could be the target and time
Reply
GaganSingh10 pjmohangitam
@pjmohangitam,
Today’s volume was good enough to break the above resistances and close above it. Immediate target now can be 139, which is a previous swing high.

In medium term (3-6 Months), with gradual increase in infra activities, targets upto 155-170 looks promising.

Even if it comes down, 100-110 levels are good to accumulate. I have a long position from 108 levels.

Wait for the price action in coming days, let it take support at the breakout levels which will further confirm the breakout.

~~Do your own analysis and consult with your financial advisor before investing~~
Reply
pjmohangitam GaganSingh10
@GaganSingh10, Thank you for your great information
Reply
GaganSingh10 pjmohangitam
@pjmohangitam, You are most welcome.
Regards
Reply
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