IRCON trade ideas
IRCON Potential LONG Feb 2020RSI Rising
Price Abv 13&40 W EMA
Volume Expansion more than 300%
RS Increasing.
IRCON INTERNATIONAL : BUY BUY BETWEEN 397-400 FOR A TARGET OF RS 422-425 IN COMING TRADING SESSIONS. SUPPLY ZONE AND RESISTANCE AT 425.
Short Sell Ircon international- Three White SoldiersThe current Indian Market scenario clearly shows that nifty wont show a significant recovery in the near term amid expected RBI repo rate hike as well unfavourable 2 Cs- Currency and Crude oil rates. Keeping these macros in mind, in my opinion this newly issued IPO , trading at discount will further see a new bottom formation at the levels of 409/410. Its a great buy at those levels for a short term of 2/3 months
SHORT SELL - THREE WHITE SOLDIERSWith current Nifty levels there is no significant recovery to be seen in the near future with expected repo rate hike amid RBI meeting on OCT5, as well as the pressure due to 2 unfavorable Cs- Currency USD/INR and Crude prices. This newly issued IPO will see a new bottom formation at the levels of 409/410, already trading at discount from its issue price. In the short term of 2/3 month a heavy recovery will be seen
