Dinesh Rohira 5nance.com
IRB Infrastructure Developers continued to remain under extended selling pressure in last six months, consolidating from a higher band of Rs 281 levels towards fresh low of Rs 168.75 levels.
It further slipped below from all the crucial moving-average level placed at Rs 206-185 levels, and thus indicating a negative trajectory. With the formation of the lower band, it also saw a subdued volume growth in last one week.
The weekly RSI stood at 31 levels while MACD is trading below its Signal-Line, both indicating selling regime.
We have a sell recommendation for IRB Infrastructure which is currently trading at Rs. 172.
Disclaimer: The author is Founder & CEO, 5nance.com. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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