IMPORTANT RESISTANCE LEVEL : 100
TARGET 1 : 125
TARGET 2 : 178
VIEW CHANGES BELOW : 85
TIMEFRAME : 3/15 months
IRB is trading in a downtrend at the current juncture with stiff resistance or supply region at 95-100. A breach of this
resistance will improve the overall structure as it will indicate a move above its downward sloping trendline and also above
its 55 week moving average both of which are near 100. While the overall oscillator setup and moving average setup is
indicating that an immediate breach of the resistance range may be difficult, once achieved chances of an intermediate and
long term revival will increase and a move towards 125 for intermediate term and 178 for the long term, is likely to open up
��
TARGET 1 : 125
TARGET 2 : 178
VIEW CHANGES BELOW : 85
TIMEFRAME : 3/15 months
IRB is trading in a downtrend at the current juncture with stiff resistance or supply region at 95-100. A breach of this
resistance will improve the overall structure as it will indicate a move above its downward sloping trendline and also above
its 55 week moving average both of which are near 100. While the overall oscillator setup and moving average setup is
indicating that an immediate breach of the resistance range may be difficult, once achieved chances of an intermediate and
long term revival will increase and a move towards 125 for intermediate term and 178 for the long term, is likely to open up
No comments:
Post a Comment