Sharing a fresh daily chart setup for IRCON International Ltd. (NSE: IRCON). The price has recently pulled back to the ₹172–₹169 support zone after a decline and is attempting to hold above the ₹173–₹175 structure flip, indicating possible buyer interest.
Trade Plan
Entry Zone: ₹173–₹176 (on sustained hold/retest of the demand area).
Stop Loss: ₹168.85 (below support/invalidation).
Primary Target: ₹179.64 (near-term resistance/flip), ₹188.92 (upper resistance/target zone).
Chart Observations
Price action is retesting a key accumulation/demand zone around ₹172–₹169.
There is an early bullish reaction near support, suggesting a potential swing reversal.
Clear invalidation below ₹168.85 provides a favorable risk/reward profile.
A daily close above ₹179.64 may confirm momentum toward ₹188.92.
Notes
This setup combines price action, major support/resistance, and disciplined risk management.
Strong risk controls are recommended as market structure can change quickly.
Consider partial profit booking near ₹179.64 and trail stops under higher lows toward the upper target.
Disclaimer
This idea is for educational purposes only and not investment advice. Please do your own research before taking any positions.
Trade Plan
Entry Zone: ₹173–₹176 (on sustained hold/retest of the demand area).
Stop Loss: ₹168.85 (below support/invalidation).
Primary Target: ₹179.64 (near-term resistance/flip), ₹188.92 (upper resistance/target zone).
Chart Observations
Price action is retesting a key accumulation/demand zone around ₹172–₹169.
There is an early bullish reaction near support, suggesting a potential swing reversal.
Clear invalidation below ₹168.85 provides a favorable risk/reward profile.
A daily close above ₹179.64 may confirm momentum toward ₹188.92.
Notes
This setup combines price action, major support/resistance, and disciplined risk management.
Strong risk controls are recommended as market structure can change quickly.
Consider partial profit booking near ₹179.64 and trail stops under higher lows toward the upper target.
Disclaimer
This idea is for educational purposes only and not investment advice. Please do your own research before taking any positions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.