Recent Price Action: IRFC has been trading in a consolidated range after reaching a high near ₹230. The stock is currently priced at ₹180.17, showing a minor decline of 0.78% today.
Consolidation Phase:
The stock is currently in a consolidation phase, trading between the support of ₹172.64 and resistance of ₹190.72. This sideways movement indicates indecision in the market, as neither the bulls nor the bears are taking full control.
Volume analysis shows a reduction in trading activity, a common characteristic during consolidation phases, as traders await a breakout from this range.
Support Levels:
Immediate Support: ₹172.64 (100-Day EMA) is crucial. If this level holds, it might attract buyers looking for a potential bounce.
Long-Term Support: ₹146.34 (200-Day EMA) remains a strong support, and any significant decline could find buying interest here.
Resistance Levels:
Immediate Resistance: ₹185.19 (20-Day EMA) is the first hurdle. A break above this could trigger a move towards the 50-Day EMA at ₹190.72.
Major Resistance: ₹200.00 is a psychological level that could be challenging to breach without strong momentum.
Trading Strategy:
For Bulls: Consider entering on a breakout above ₹190.72 with a target of ₹200.00 or higher, placing a stop-loss below ₹172.64.
For Bears: Consider shorting on a breakdown below ₹172.64, with a target around ₹146.34, keeping a stop-loss above ₹185.19.
Consolidation Phase:
The stock is currently in a consolidation phase, trading between the support of ₹172.64 and resistance of ₹190.72. This sideways movement indicates indecision in the market, as neither the bulls nor the bears are taking full control.
Volume analysis shows a reduction in trading activity, a common characteristic during consolidation phases, as traders await a breakout from this range.
Support Levels:
Immediate Support: ₹172.64 (100-Day EMA) is crucial. If this level holds, it might attract buyers looking for a potential bounce.
Long-Term Support: ₹146.34 (200-Day EMA) remains a strong support, and any significant decline could find buying interest here.
Resistance Levels:
Immediate Resistance: ₹185.19 (20-Day EMA) is the first hurdle. A break above this could trigger a move towards the 50-Day EMA at ₹190.72.
Major Resistance: ₹200.00 is a psychological level that could be challenging to breach without strong momentum.
Trading Strategy:
For Bulls: Consider entering on a breakout above ₹190.72 with a target of ₹200.00 or higher, placing a stop-loss below ₹172.64.
For Bears: Consider shorting on a breakdown below ₹172.64, with a target around ₹146.34, keeping a stop-loss above ₹185.19.
Passionate Hustler. Lifetime learner. I dive into everything with full energy and never get bored—always exploring, always evolving. Join me on my journey as I hustle through life, learn new things, and share insights that inspire!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Passionate Hustler. Lifetime learner. I dive into everything with full energy and never get bored—always exploring, always evolving. Join me on my journey as I hustle through life, learn new things, and share insights that inspire!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.