Comprehensive Technical Analysis of IRFC Weekly Chart: Trends

6 Oca

Trend Analysis:
Current Price: ₹145.42 (as shown on the chart).
Trend Direction:
The breakout from the descending wedge earlier suggests bullish momentum. However, the price has been consolidating in a sideways pattern recently, indicating indecision among traders.
A strong support level is evident near ₹140–₹144.
Support and Resistance Levels:
Immediate Support: ₹144 (near Pivot Point and S1 zone).
If the price breaks below ₹144, it could retest lower Fibonacci levels like ₹130–₹125 (S2 and S3).
Resistance Levels:
₹153 (R1): If the price can cross this, further upward movement toward ₹160 (R2) and ₹180 (R3) is possible.
MACD Insights:
Current Status:

MACD is below the signal line, suggesting bearish momentum in the short term.
The histogram shows shrinking red bars, indicating weakening bearish momentum and potential for reversal.

Possibilities:
If the MACD crosses above the signal line, it would confirm bullish momentum.
If bearish momentum persists, expect further price consolidation or a downward move.

Volume and Momentum:
The chart does not explicitly show volume bars, but momentum indicators (like MACD) suggest a slowdown in bearish pressure.

Wedge Breakout and Potential Scenarios:
Bullish Continuation: If ₹145–₹150 is held as support, the price may rally toward ₹160 and eventually ₹180 in the medium term.
Bearish Breakdown: If ₹144 is breached, the price may revisit ₹130, a strong support level from previous consolidations.
Sideways Consolidation: If momentum remains weak, the price could range between ₹144–₹153 for a few weeks.

28 Şub

İşlem aktif

Updated Trend Analysis:
Current Price: ₹118.99

Trend Direction:
The price has broken below the key ₹144 support level, invalidating the previous bullish consolidation thesis.
A clear downtrend is visible, with lower highs and lower lows forming.
The stock is testing S1 (₹100-₹105) as a potential next support level.

Support and Resistance Levels:
Immediate Resistance: ₹125–₹130 (previous support turned resistance).
Stronger Resistance Levels: ₹144 (major breakdown level).

Next Support Levels:
₹100 (S1) – If this level holds, a consolidation or bounce could occur.
₹73–₹75 (S2 region) – If selling pressure continues, this could be the next major demand zone.

MACD Insights (Momentum Analysis):
Bearish Momentum:
The MACD line remains below the signal line, confirming the downtrend.
The histogram still shows red bars, though the decline seems to be slowing down slightly.
No signs of bullish divergence yet, suggesting further downside risk.

Updated Possibilities:
Bearish Continuation:

If the price remains below ₹125, further downside toward ₹100 is likely.
Breaching ₹100 could accelerate selling toward ₹75.
Relief Bounce Scenario:

A temporary bounce might occur from ₹100–₹105, targeting ₹125 before facing resistance again.
A sustained recovery would require a MACD bullish crossover and a breakout above ₹144.
Sideways Accumulation:

If the price stabilizes between ₹100–₹125, we might see a range-bound phase before a breakout direction is established

Conclusion:
Bias: Bearish unless price reclaims ₹125–₹130.

Key Levels to Watch: Support at ₹100, Resistance at ₹125.
Indicators Suggest: Continued caution, possible further downside unless momentum shifts.
Current Price: ₹118.99

Trend Direction:
The price has broken below the key ₹144 support level, invalidating the previous bullish consolidation thesis.
A clear downtrend is visible, with lower highs and lower lows forming.
The stock is testing S1 (₹100-₹105) as a potential next support level.

Support and Resistance Levels:
Immediate Resistance: ₹125–₹130 (previous support turned resistance).
Stronger Resistance Levels: ₹144 (major breakdown level).

Next Support Levels:
₹100 (S1) – If this level holds, a consolidation or bounce could occur.
₹73–₹75 (S2 region) – If selling pressure continues, this could be the next major demand zone.


MACD Insights (Momentum Analysis):
Bearish Momentum:
The MACD line remains below the signal line, confirming the downtrend.
The histogram still shows red bars, though the decline seems to be slowing down slightly.
No signs of bullish divergence yet, suggesting further downside risk.

Updated Possibilities:
Bearish Continuation:

If the price remains below ₹125, further downside toward ₹100 is likely.
Breaching ₹100 could accelerate selling toward ₹75.
Relief Bounce Scenario:

A temporary bounce might occur from ₹100–₹105, targeting ₹125 before facing resistance again.
A sustained recovery would require a MACD bullish crossover and a breakout above ₹144.
Sideways Accumulation:

If the price stabilizes between ₹100–₹125, we might see a range-bound phase before a breakout direction is established.

Conclusion:
Bias: Bearish unless price reclaims ₹125–₹130.

Key Levels to Watch: Support at ₹100, Resistance at ₹125.

Indicators Suggest: Continued caution, possible further downside unless momentum shifts.