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IRB Infra

Discussion in 'Technical Analysis' started by manjeetsingh250187, Jun 8, 2014.

  1. manjeetsingh250187

    manjeetsingh250187 New Member

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    Hi All,

    I was reading IRB infrastructure chart, in both 1 year and 6 month chart, observer the patter, find attached the Chart for 6 month IRB.

    1. The candle line is leaving upper band, but still above 9 day SMA.
    2. Tried to draw Fibonacci retrenchments, it is going above 78.6 to 100%.

    Could you please answer below question:

    1. can a fresh entry can be taken with a target of 225, with a stop-loss of 193.
    2. For Fibonacci retrenchments, should we search a point for which all the levels are coinciding with price line of share?

    Thanks,
    Manjeet
     

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    manjeetsingh250187, Jun 8, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    The ROI is too steep. The Stop loss is at 150 and not 193.
     
    shabbir, Jun 8, 2014
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