In the current run up we observe the stock having more up days with strong buying and volumes are less when stock is in the red.
- a classic scenario to enter long position especially on dips for medium term
- levels are mentioned in the chart
Take care & safe trading...!!!
Sell Irb Infra with a SL of 133 and target of 125.1
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Looks like IRB will resume the fall post the pullback from 120 levels. Looks like the pullback is over, confirmed by the pullback trendline breakdown on Friday - 18-Jan.
Next immediate target looks like 138. Keep a Stop at 155.
The price action has nicely formed Rectangle Pattern it looks that demand is emerging at this level so one can buy the stock with SL of recent low. In case of close below the lower boundaries one should immediately close the trade even aggressive traders can initiate short trade but that does not seems to have good chances of target as there is support nearby....
We have spotted a potential harmonic BAT pattern on IRB hourly chart. BAT Pattern isn't yet completed. We will wait for completion of the pattern to get engaged in this trade. Price may take few more days to reach D leg of the pattern. We will keep updating the idea.
If you have any suggestions/queries, please free to comment down below.
NSE:IRB may go for consolidation now. Its high in RSI and MACD is showing reversal in trend. Stock has also made a strong bearish engulf today.
Sell below 335
Strict SL of 352 and Closing basis SL of 246
IRB, stocks lies in Whipsaw region, Giving a nice Trade Setup :
For Long Setup:
Buy Above : 242.50
Target : 259.50
Stop Loss : 237.50
For Short Setup:
Sell Below : 232
Target : 224.50
Stop Loss : 238.50
Trader's Can Delta Out there Options Position for Hedging