📌SWING TRADE FOR NEXT WEEK🚀
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📌TRADE ANALYSIS OF IRFC
• Potential Breakout Chart
• VCP Pattern
•...
IRFC Daily TF
CMP 147
stock trading in a tight range of 140- 150
Breakout above 150 with volume can see targets in black lines
Breakout candidate.
Disclaimer : For educational purpose only no buy sell recommended.
Hello & welcome to this analysis
After a super run in 2023 its now in a retracement with support at 130 and below that at 100.
Resistance is at 155 and then 165 - sustaining above these levels it could see a decent upside in the medium to long term
Happy Investing
Date : 2-Apr-2024
Rating : Buy - Positional Trade
LTP : Rs. 144.80 (on 1-Apr-2024)
Targets: (1) Rs. 164 --> (2) Rs. 192 --> (3) Rs. 240
SL : Rs. 135
Technical View:
• NSE:IRFC is in its primary uptrend since Aug-2023 and was recently going through it's secondary downtrend.
• After touching the high of 192.8 on 23-Jan-2024, it has retraced 39% to 116.65...
daily chart formed bullish a pennant flag & falling wedge pattern.
may consider only after a buy candle conformation.
This analysis is for learning purpose only.
It is just a view, please trade at your own risk. I'm not SEBI registered adviser.
Try paper trading for candlestick patterns.
Buy above 145.00.
Maintain strict stoploss 120
I'm not a sebi registered analyst, just for educational purpose.
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
The Elliott Wave analysis shows that the stock has completed waves (i), (ii), (iii), and (iv), as represented by blue numbers on the daily chart.
Wave (iv), also known as the corrective wave, followed an a-b-c pattern, as seen in red. It has retraced approximately 61.8% of Wave 3.
Wave (v) commenced following the end of wave (iv).
Wave (v) is projected to...
NSE:IRFC has done exceedingly well in the markets like other Railway PSU stocks. No one can deny that these shares have performed well on fundamental backing. However, it will be wrong to say that the rally is not stretched.
Corrections can be of 2 kinds in the market and here there is a possibility of consolidation (time-wise correction). A consolidation is not...
Check the important support and resistance in the chart
Close below 130-128 can take the stocks to 117-115 levels
If the stock sustains the above the level on closing basis, then the immediate resistance will be 143 & 153.
