ORIENTAL RAIL INFRASTRUCTURE LTD

7 thg 8

Technical Analysis

- After breaking out at ₹150, the stock reached ₹300.
- It consolidated in a range for 6 months before breaking out again in June 2024 to touch
₹450.
- The price has now retraced to the ₹300 level, retesting previous support.

- Fibonacci Retracement: Currently in the golden pocket zone.
- RSI: Indicates a healthy momentum.
- Moving Averages: Trading above the 50 EMA and 200 EMA, indicating a bullish trend.

Fundamental Analysis

- Company Fundamentals: Strong
- Valuation: Slightly expensive but not a significant concern for short-term trades.

Action:

1. Buy Zone:

Consider buying between 331.45 and 304.80, keeping an eye on price action and volume at these levels for confirmation.

2. Stop Loss Placement:
• Place a stop loss around ₹295-298 to limit potential losses if the support levels fail.

3. Profit Booking:
• Start booking profits around 400,₹440 for the short term. If the price shows strength and breaks above the 400 level, hold for a medium-term target of ₹500.

4. Monitor Key Levels

• Keep an eye on the 50 EMA and 200 EMA for any changes in trend direction.
  

Watch for price action around key Fibonacci levels to adjust strategy accordingly.

Summary:

• Entry: ₹331.45 to ₹304.80.
•Stop Loss: ₹298.
• Targets: ₹400,440 (short-term), ₹500 (medium-term).

Risk:Reward = 1.65 ( for target 400 )
2.65 ( for target 440 )

note* This is a circuit stock, UC & LC are very common so please place your SL.

Happy Trading:)