IRB INFRASTRUCTURE has earlier been in a tight trading range in the weekly charts.
It is showing signs of Distribution (Expansion).
Yesterday it gave a breakout & a followthrough is expected since RSI is not in an overbought zone yet.
I recommend shorting this stock near 230/235 zones if the RSI shows overbought reading as well in this week.
Keep a Stop at 240 & look for targets of 215.
It is showing signs of Distribution (Expansion).
Yesterday it gave a breakout & a followthrough is expected since RSI is not in an overbought zone yet.
I recommend shorting this stock near 230/235 zones if the RSI shows overbought reading as well in this week.
Keep a Stop at 240 & look for targets of 215.