Trading Near Demand Level and Fib Golden RatioStock Analysis: IRB infra trading between channel currently price is at important Fib golden ratio level with demand zone area.
Breaking above the supply zone for long term expecting target mentioned on the chart and demand zone as SL level. Let's see.
Happy Investing!
IRB trade ideas
IRB - Ready for 50-60% upside move?IRB infrastructure is clearly following the wave theory.
I have highlighted the channels which will play crucial support/resistance zones.
Currently, the stock is trading at 118 and any weekly closing above 140 will open the possibilities of 190+ levels.
My propriety TML Moneyball indicator has given a buy signal on daily time frames.
My view is negated if the stock price gives a weekly closing below 98
IRB Infrastructure - Technical Analysis - 5/12/2016After a huge up move in the first half of 2015, IRB Infrastructure has spent rest of the time consolidating in flag like pattern, roughly between Rs. 200 and 280. Of course it's difficult to pick long term direction for a stock with such explosive volatility exhibiting trips from 60 to 300, twice in last few years.
To trade IRB Infrastructure, it requires patience to get involve only at the right levels. Looking at the behavioral patter of the stock, it is obvious that there are lots of roughly 40 points overlap while moving in each direction. As of now, buying levels are 200 and 180, with targets being 240, 260 and 280. Play within the range until any side gives up !