Indian Railway Finance Corp: Bullish Ride from Demand Zone
Observations:
Order Block (Demand Zone):
The blue zone indicates a strong demand area where institutional buying might occur.
Price has recently tested this order block and moved higher, confirming its strength.
Trendline Break and Retest:
A previous uptrend line (black) was broken, and now the price has retested the area with potential for further upside.
Volume Analysis:
A rise in volumes during the uptrend indicates strong buying activity.
Decline in volumes during the recent downtrend suggests weaker selling pressure.
Bullish Target Zone:
Green box at ₹200–₹210 indicates a potential bullish target based on prior resistance levels.
Trade Setup:
Long Position:
Entry Zone: ₹140–₹145 (near current levels, after the order block confirmation).
Stop Loss: ₹135 (below the order block to limit downside risk).
Target 1: ₹175 (intermediate resistance).
Target 2: ₹200–₹210 (major resistance zone as highlighted in the chart).
Risk-Reward Ratio:
With a stop loss of ₹135 and a target of ₹200, the risk-reward ratio is approximately 1:5, making it highly favorable.
Confirmation Signals:
Watch for an increase in volume during upward moves to validate the bullish trend.
Check for any broader market trends that might influence the stock’s movement.
Order Block (Demand Zone):
The blue zone indicates a strong demand area where institutional buying might occur.
Price has recently tested this order block and moved higher, confirming its strength.
Trendline Break and Retest:
A previous uptrend line (black) was broken, and now the price has retested the area with potential for further upside.
Volume Analysis:
A rise in volumes during the uptrend indicates strong buying activity.
Decline in volumes during the recent downtrend suggests weaker selling pressure.
Bullish Target Zone:
Green box at ₹200–₹210 indicates a potential bullish target based on prior resistance levels.
Trade Setup:
Long Position:
Entry Zone: ₹140–₹145 (near current levels, after the order block confirmation).
Stop Loss: ₹135 (below the order block to limit downside risk).
Target 1: ₹175 (intermediate resistance).
Target 2: ₹200–₹210 (major resistance zone as highlighted in the chart).
Risk-Reward Ratio:
With a stop loss of ₹135 and a target of ₹200, the risk-reward ratio is approximately 1:5, making it highly favorable.
Confirmation Signals:
Watch for an increase in volume during upward moves to validate the bullish trend.
Check for any broader market trends that might influence the stock’s movement.
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