Railway stock at pre-breakout level

IRFC has recently moved to all time high and now has formed a symmetric triangle pattern. As per the price action on daily and weekly chart, currently it is trading at pre-breakout level and today closed with good volume.

Aggressive traders can initiate long position at CMP and safe trader can take entry once daily candle closed above the entry line. In short term, it can move upto 38-40 rupees and also looking good for positional trade. Stop loss will be below the swing which is around 31.

Happy trading :)

Trade active:

Yesterday I shared analysis and today it rose more than 5%. It will rise more in coming days.

Trade closed: target reached:

The stock rose more than 9% today and made a new lifetime high. Also, it has achieved 1st target. We can book some profit here and trail for the next targets with trailing SL as CTC.

Comment:

Today again stock rose 9% and achieved the 2nd target. One still holding the stock can now trail with SL as T1 for next targets.

Comment:

All targets are achieved within 2 weeks, enjoy profit and trail. :)