Warning: Creating default object from empty value in /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/settings.php on line 122

Warning: Creating default object from empty value in /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/settings.php on line 139

Warning: session_start(): Cannot send session cookie - headers already sent by (output started at /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/settings.php:122) in /home/stockmarketindia/stockmarketindia/wp-content/plugins/chap-secure-login/chapsecurelogin.php on line 30

Warning: session_start(): Cannot send session cache limiter - headers already sent (output started at /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/settings.php:122) in /home/stockmarketindia/stockmarketindia/wp-content/plugins/chap-secure-login/chapsecurelogin.php on line 30
Buy Calls – IRB Infrastructure Developers
Warning: Creating default object from empty value in /home/stockmarketindia/stockmarketindia/wp-content/plugins/oiopub-direct/include/output.php on line 26

For *Everyday* Free updates on Buy Calls, Stock Splits, Bonus, Rights Issues & IPO:

  



Buy Calls – IRB Infrastructure Developers



We recommend a buy in the stock of IRB Infrastructure Developers from a short-term perspective. It is apparent from the chart of the stock that after encountering resistance at around Rs 205 in April, the stock started to decline. In May, it tumbled steeply and hit a 52-week low at Rs 100 on May 14. However, the stock changed its direction thereafter and has been on a modest medium-term uptrend. However, last week, the stock fell below the lower boundary of the daily Bollinger Bands signalling oversold. Its daily relative strength index also reached oversold levels implying a near-term up move. Further, key support around Rs 112 arrested the stock’s decline.

On Monday, the stock moved out of oversold levels by gaining more than 10 per cent accompanied by good volumes. This rally has breached a key resistance at Rs 120 reinforcing the bullish momentum and the stock has resumed its medium-term uptrend. The daily RSI has entered the neutral region from the negative zone.

We are bullish on the stock from a short-term perspective. We anticipate its up move to continue and reach our price target of Rs 129.5 or Rs 133.5 in the approaching trading sessions. Traders with short-term perspective can buy the stock with stop-loss at Rs 122.

*To get the password for buy calls, please subscribe to this blog. You will receive the password in next email to you*




If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments

No comments yet.

Leave a comment

(required)

(required)