Technical Analysis of IRFC (INDIAN RAILWAY FIN CORP L)
Overview of the Chart:-The chart provides a technical analysis of IRFC on a 1-hour timeframe. It includes:
Price action: The recent price action shows a bullish trend with the price currently above the 200 EMA (Exponential Moving Average).
Support and Resistance: Key support levels are identified at 189.15 and 179.66 (0.236 Fibonacci Retracement level). Resistance levels are at 215.21 and 229.04 (Sell Zone).
Trading Ideas Based on the Analysis
Bullish Scenario:
Breakout:- A decisive break above the 215.21 resistance level could signal a stronger bullish trend.
Buy Signal:- A close above the 189.15 support level could be considered a buy signal.
Target: Potential upside targets could be the 229.04 resistance level and beyond.
Bearish Scenario:
Breakdown: - A clear break below the 189.15 support level could indicate a bearish reversal.
Sell Signal:- A close below the 179.66 support level could be considered a sell signal.
Target: Potential downside targets could be the 172.48 level and lower Fibonacci retracement levels.
My Personal Opinion:- As per previous chart history and current chart pattern along with technical analysis, I am Bullish in IRFC
Disclaimer: This analysis is based solely on the technical indicators. It does not consider fundamental factors or market sentiment. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research or consult with a financial advisor before making investment decisions.
Thanks for your support as always
Overview of the Chart:-The chart provides a technical analysis of IRFC on a 1-hour timeframe. It includes:
Price action: The recent price action shows a bullish trend with the price currently above the 200 EMA (Exponential Moving Average).
Support and Resistance: Key support levels are identified at 189.15 and 179.66 (0.236 Fibonacci Retracement level). Resistance levels are at 215.21 and 229.04 (Sell Zone).
Trading Ideas Based on the Analysis
Bullish Scenario:
Breakout:- A decisive break above the 215.21 resistance level could signal a stronger bullish trend.
Buy Signal:- A close above the 189.15 support level could be considered a buy signal.
Target: Potential upside targets could be the 229.04 resistance level and beyond.
Bearish Scenario:
Breakdown: - A clear break below the 189.15 support level could indicate a bearish reversal.
Sell Signal:- A close below the 179.66 support level could be considered a sell signal.
Target: Potential downside targets could be the 172.48 level and lower Fibonacci retracement levels.
My Personal Opinion:- As per previous chart history and current chart pattern along with technical analysis, I am Bullish in IRFC
Disclaimer: This analysis is based solely on the technical indicators. It does not consider fundamental factors or market sentiment. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research or consult with a financial advisor before making investment decisions.
Thanks for your support as always
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.