PL Technical Research: BUY IRFC - TECHNICAL PICK

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

PL TECHNICAL : - BUY IRFC 73.35 STOPLOSS 64 TARGET 90 – TECHNICAL PICK

The stock has witnessed a decent correction recently and has taken support near 68 levels which is an important base and also the 50 EMA level lies in that zone. The stock has indicated a trend reversal from that levels and has improved the bias to anticipate further upside in the coming days. The RSI also has reversed from the oversold zone and has signaled a buy. We suggest to buy and accumulate the stock for an upside target of 90 levels keeping the stop loss near 64.