IRFC has shown a good move today after a healthy correction and looks set to resume its rally.
After a brief fall, it has consolidated above the 0.618 levels with a hint of bearish sentiment.
However, todays closing with good volumes makes it a good setup to go long with a good risk reward ratio.
Keeping 1 ATR as SL. I would avoid to keep any target in this trade because this stock is known to give big up moves quickly and would prefer to keep moving my TSL up if my view turns out right.
After a brief fall, it has consolidated above the 0.618 levels with a hint of bearish sentiment.
However, todays closing with good volumes makes it a good setup to go long with a good risk reward ratio.
Keeping 1 ATR as SL. I would avoid to keep any target in this trade because this stock is known to give big up moves quickly and would prefer to keep moving my TSL up if my view turns out right.
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Apologies for the late update.
Our SL has been triggered and view went wrong amid weak global cues
Our SL has been triggered and view went wrong amid weak global cues