IRCON trade ideas
IRCON INTERNATIONALA Symmetrical Triangle pattern on weekly charts.
There has been a lot of tension around the 93 level and the volumes suggest this time it could breakout well.
This chart call is a bit pre mature awaiting a breakout, but just with a hunch that it could do well , I'm taking a risk before the breakout.
Safe investors can take it only after it closes above and sustains above 93.
Available at bargain price a sure gain Trading at strong support, below its Offer for sale price.
Govt. is fully committed to spend big chunk of money into infra sector.
Company could announce bonus in next meeting.
Company has good order book.
Price got down only due to govt. stake sell at discount price.
Ircon International Ltdas last 6-month share price performance is only 4-5% and after ofs is good for buy. for the long term.
IRCON’s order book as of December 2020 was Rs 32,800 crore which is equal to 7 times its trailing 12 months revenue. Almost 94% of its order book is from the Railways. source -The Economic Times
IRCONs strength remains in the railway sector & around 80% of the total revenue in FY20 was generated from the rail and related projects.
* This research is only for learning perpose
IRCONIRCON
Price gave BO from 93 levels with highest ever volumes.
Now stock trying to retest the BO levels
IRCON Breakout with VolumeIRCON has seen a strong Bullish movement with Triangular Breakout and Volume.
Advise Buy at CMP 100, Add more at 75, SL 60, Target 120+
Please invest 1/3rd of targeted investment amount.
RCON Int.Strong Breakout with High Volumes..Target long for 124BSE:IRCON
RSI momentum maintained above 60!
2 day EMA crossed above monthly SMA as well
IRCON WEEKLY CHART ANALYSIS FOR LONG TERMIRCON can break out from on weekly chart (H & S Pattern Observed)
If it breaks above 96 and sustain can go till 114 Level may be further.
This is chart analysis not investment advisory.
Happy Learning Together.
Cheers :)
www.thehindubusinessline.com
Ircon International Limited...Go long Ircon International Limited, formerly Indian Railway Construction Limited (IRCON), is an engineering and construction organisation, specialized in transport infrastructure.
Will ready for Budget 2021
Target 100
A cup and handle pattern formation.On a daily chart Cup and Handle formation is formed.
Also, a breakout can be seen with a great volume.
IRCON in Rounding BottomIRCON has recently given 200DMA breakout with good volume, now this is again came to breakout candle close level. 97-100 level looks like resistance zone. breakout at above level can take this to all time high followed by 124 level.
IRCON 1D chartPlease enter the trade once u get a proper breakout or reversal from the levels, Do not hesitate to contact me with any queries. Kindly support my views. Thanks
IRCON - Bullish Breakout with volumeNote: This is for educational purpose only.
There seems to be a bullish breakout with good volume. Moreover, the price has broke out long term resistances as well. RSI seems to be showing a bullish breakout as well. Moreover, RSI above 60 indicates bullish momentum.
IRCON INTERNATIONAL DARVAS THEORYafter 1st breakout with good volume this stock is currently in the range of 90 to 100. u can hold this stock for long and keep stop loss at 80..
IRCON INTERNATIONAL DARVAS THEORY After 1st breakout with volume this stock is currently in the range of 90 to 100 for the past 1 month. volume is little bit increasing after 1st breakout.. i will suggest hold this share for long and stop loss between 80..
