TRADING TRIANGLE : IRFC -- POSITIONAL TRADE --NSE: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.
