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The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Devang Shah. The information contained herein is based on my analysis of the Charts. I,however,do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it. The Investment discussed & recommended on this website may not be suitable for all. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent Views, as they believe necessary.
While acting upon any information or analysis mentioned on this website, investors may please note that neither Devang Shah nor any person connected with him accepts any liability arising from the use of this information and views mentioned herein. I may hold long or short positions in the securities/commodities discussed herein from time to time. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such securities/commodities.

Stocks

FRIDAY, AUGUST 19, 2016

  


VIEW POINT: (Investment Ideas) - From wave count perspectives:

1. IRB INFRA: CMP- 230. (Strong bullish case if breaks 260 levels)

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IRB INFRA looks like possibility of wave-3 strong bullish case. It consolidated time wise in range from 280-200 levels for last around 20 months. It looks like base triangle case at the end of consolidation as per daily chart attached. It has also broken out of base triangle pattern as per chart attached.

It has strong channel resistance near 260 levels; Break of it will finally confirm further higher levels targets towards its life time high levels of 312 levels & eventually fresh targets in un-chartered territory. But logically if its wave-3 case then arithmetically its conservative targets comes around 620 levels (i.e.- almost double from its all time high of 312 levels).

Its bit pre-emptive to conclude wave-3 case before breakout as mentioned above without looking its real fundamentals as well. But on technical charts, it looks good pattern after consolidation & risk reward is also favourable to BUY at current levels.

Its daily & weekly momentum indicators are in BUY supporting overall view at current levels.

One BUY with SL-190 levels for Positional higher levels targets in medium to long term.

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