IRFC - Strong Support Zone (Swing Trade Setup)Indian Railway Finance has been trading around a major support zone between ₹130 and ₹135, which has been tested multiple times in the past. The stock has shown signs of rebounding off this zone.
Support Zone: ₹130 - ₹135 (highlighted in orange)
Current Price: ₹141.99
Potential Rebound: The price is currently bouncing from this strong support area, which has held up well over several months. This indicates potential buying interest around these levels.
Entry Strategy:
I’ll be watching for further bullish confirmation. A 15-minute candle breaking above today's high or a strong daily close above ₹142.80 could be an indication to enter the trade .
Risk Management:
If the price closes below ₹130 on a daily candle , I’ll consider exiting the trade as it would indicate a breakdown of the support zone.
This setup provides a favorable risk-to-reward ratio, especially given the multiple bounces off the support zone in the past. If the support holds, the stock could be in for a significant upward move.
Disclaimer: This post is for educational purposes only and is not financial advice. Always manage your risk and trade responsibly.
