TRADING TRIANGLE : IRFC -- POSITIONAL TRADE --

IRFC

>Forming a triangle on 4-hour time frame

>It has breakout on the line chart but not on candlestick chart.

> For good confirmation we should wait to align both charts ( line and candlestick ).

>IRFC is facing heavy resistance at 25.50 to 26.50 range if this break then we can initiate a long position.

>Entry above - 26.50.

>RSI has bullish divergence on daily timeframe.

> There is no past trading data at this level so the target shall be a measured move of triangle range.

#Fundamentals

>Current price is below its intrinsic value.
>Its P/E ratio is less than its peers, which makes it undervalued.
>The financials are getting better and the company reported increased profit.
>Revenue is growing at a higher rate than the industry average.

Trade active:

waiting for trigger longer the time it takes stronger it will become