One can see in the charts that all levels on daily and weekly timeframes are tested. The white trend line keeps on adjusting as we go while blue is intact, signs of distribution.
once it comes to confluence zone(intersection of 2 trend lines) , perfect short opportunity.
It is a positional trade so we have to be patient.
Aggressive - 51500
Analyzing the trends and levels, there are 3 possible scenarios considering we are in a bull run.
Green: Gap Down Opening (Marked Buy and Target Levels with Proper SL)
Red: Gap up Opening(NO trade )
Blue: Flat opening(Marked Buy and Target levels with proper SL).
Kindly do your own research . NFA
IRFC looking good on daily timeframe, if w manage to hold the mentioned level i.e 23.15, we can also buy at red markers once it starts to move up after testing the marked level
Short term target can be up to life time high which is 26.7.
Hold Duration 2-2.5 months
Entry Price -23.15-23.40