Indian Railway Finance Corporation Ltd - Breakout Opportunity
Updated
Date: 2-Apr-2024
Rating: Buy - Positional Trade
LTP: Rs. 144.80 (on 1-Apr-2024)
Targets: (1) Rs. 164 --> (2) Rs. 192 --> (3) Rs. 240
SL: Rs. 135
Technical View:
•
IRFC is in its primary uptrend since Aug-2023 and was recently going through it's secondary downtrend.
• After touching the high of 192.8 on 23-Jan-2024, it has retraced 39% to 116.65 level.
•IRFC has broke out from its secondary down trend on 22-Mar-2024 with higher than average volume.
• RSI has crossed over 50 on 26-Mar-2024. MACD is about to cross 0 line as on 2-Apr-2024.
• On 26-Mar-2024 it has closed above 20 DMA.
• Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Rating: Buy - Positional Trade
LTP: Rs. 144.80 (on 1-Apr-2024)
Targets: (1) Rs. 164 --> (2) Rs. 192 --> (3) Rs. 240
SL: Rs. 135
Technical View:
•
IRFC is in its primary uptrend since Aug-2023 and was recently going through it's secondary downtrend.• After touching the high of 192.8 on 23-Jan-2024, it has retraced 39% to 116.65 level.
•
IRFC has broke out from its secondary down trend on 22-Mar-2024 with higher than average volume.• RSI has crossed over 50 on 26-Mar-2024. MACD is about to cross 0 line as on 2-Apr-2024.
• On 26-Mar-2024 it has closed above 20 DMA.
• Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Trade closed manually
7-May-2024--------------
Closed below 21 DEMA. RSI and MACD is giving bearish view. Closing the call.
LTP: 149.8
P&L: +3%
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