IRB

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I have bought shares of IRB In­fra at Rs 220. Should I hold or exit with mi­nor losses?

- Amit Dang­wal

EXIT IRB IN­FRA­STRUC­TURE DE­VEL­OP­ERS BE­LOW RS 209

IRB In­fra is cur­rently trad­ing at Rs 220. Its 52-week high/low stand at Rs 272.40/Rs 177.50 made on May 3, 2017 and Novem­ber 23, 2016, re­spec­tively. Con­sid­er­ing the daily time frame, the stock has wit­nessed lower tops and lower bot­toms af­ter hit­ting 52-week high lev­els. Cur­rently, the stock is trad­ing in con­sol­i­da­tion af­ter re­cov­er­ing from a sharp fall up to Rs 195 level. Poor vol­umes and 14-pe­riod RSI at 49 sug­gest lack of mo­men­tum in the stock. The stock may gain some mo­men­tum af­ter Rs 221 and trend reversal only above Rs 230 level. How­ever, if it tum­bles be­low Rs 209, it can hit Rs 195 and be­low that. Hence, we sug­gest you to hold and exit if the stock falls be­low Rs 209.

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