IRPC : A close above 6.10 will brighten prospects here

Back on Feb 23 we said of IRPC : If and when 5.60 is cleared the counter should advance to nearer 6.10. This scenario will remain valid as long as the stock holds at or above 5.20

The stock hit a recent high of 6.15, and for the next trade here there seem to be two possibilities. Firstly, a strong volume breakout above 6.10, with 6.35 as the VST target, and possibly secondly, if it dips back to 5.80, consider buying with 61 the first and 6.20 the 2nd target. Use a stop of just 3 spreads here.

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: