IRFC - Strong Support Zone (Swing Trade Setup)
Indian Railway Finance has been trading around a major support zone between ₹130 and ₹135, which has been tested multiple times in the past. The stock has shown signs of rebounding off this zone.
Support Zone: ₹130 - ₹135 (highlighted in orange)
Current Price: ₹141.99
Potential Rebound: The price is currently bouncing from this strong support area, which has held up well over several months. This indicates potential buying interest around these levels.
Entry Strategy:
I’ll be watching for further bullish confirmation. A 15-minute candle breaking above today's high or a strong daily close above ₹142.80 could be an indication to enter the trade.
Risk Management:
If the price closes below ₹130 on a daily candle, I’ll consider exiting the trade as it would indicate a breakdown of the support zone.
This setup provides a favorable risk-to-reward ratio, especially given the multiple bounces off the support zone in the past. If the support holds, the stock could be in for a significant upward move.
Disclaimer: This post is for educational purposes only and is not financial advice. Always manage your risk and trade responsibly.
Support Zone: ₹130 - ₹135 (highlighted in orange)
Current Price: ₹141.99
Potential Rebound: The price is currently bouncing from this strong support area, which has held up well over several months. This indicates potential buying interest around these levels.
Entry Strategy:
I’ll be watching for further bullish confirmation. A 15-minute candle breaking above today's high or a strong daily close above ₹142.80 could be an indication to enter the trade.
Risk Management:
If the price closes below ₹130 on a daily candle, I’ll consider exiting the trade as it would indicate a breakdown of the support zone.
This setup provides a favorable risk-to-reward ratio, especially given the multiple bounces off the support zone in the past. If the support holds, the stock could be in for a significant upward move.
Disclaimer: This post is for educational purposes only and is not financial advice. Always manage your risk and trade responsibly.
Dagangan aktif
Entry Order Filled at 142.8
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.