Indian Metal & Ferro Alloys - IMFA is available at great bargain price this stock can be accumulated from current levels i.e. 110 till 78 It has recently hit 90 level and that is great support for now breaching which it can see levels of 78 However one should consult their financial advisor before making any decision to buy or sell equities
The high of the strength candle touches the indecision zone and couldn't cross it with strength
Strong support at 235, resistance at 267 and intermediate term target is 297
Sell for 299-281 sl 316 Disc:. 1. No open position 2. Educational purpose only
Scrip can be entered for SHORT post confirmation as it can attract selling pressure after posting unpleasant results -- www.moneycontrol.com Enter below 635 TP - 628, 620, 600, 570, 550 MACD Short term average has already gone below long term average (Death Cross)
After a Short Term Correction this stock is getting ready to get on the Up Trend! Look out for the Target of 700 to 750 after the Cup and handle Breakout!
With fine fundamentals, it has taken a support at 0.618 Fibonacci retracement level. Low volumes. A minor resistance in 580-590 band. Crossing this band may take it north towards 840-850 levels.
All mentioned on Chart. Go Long: In Between @ 544 to @ 553 Target / SL/ Best BUY (more BUY) on Chart. Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor. LIKE / Comment /Share , If useful & enriched your knowledge. With warm regards. DSKF16.
IMFA is an investment cadre stock. It is forming Cup and Handle pattern. Handle break out has occurred at 61.8% swing retracement. If the pattern is correct and we measure the target it can give roughly 700 points from the handle break-out. Target comes around 1100 level. Kindly confirm at your end before investing your valuable money.
IMFA is supporting a PF' channel having a resistance around 570 Keep a Strict stop loss @ 400