IRB Infrastructure: Time to Hunt Long Positions

The stock has been in a major downtrend from the Aug. 24 high of Rs.312.80. The price action since May 25 indicates that a short-term uptrend is underway.

IRB Infra Daily chart, Time to Hunt Longs

The buyers seem keen to accumulate the stock around the Rs.148-level. The chart patterns last week suggest that the buyers may now be keen to buy at Rs.154 levels.

Long positions may be considered with a stop loss at Rs.152, for a target of Rs.194.


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