~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~~
on 2nd june broke resistance levels as mentioned above. can take a position. what could be the target and time
GaganSingh10
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@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~~