~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 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~~
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~~