Expect IVRCL Infra to touch Rs 86-88: Angel Broking

Shardul Kulkarni of Angel Broking expects IVRCL Infra to move to around Rs 86-88 in the next 15-20 trading sessions.

Kulkarni told CNBC-TV18, "We would be recommending IVRCL Infra. We are seeing that the stock has formed an inverse head and shoulder breakout above the levels of Rs 73.80. We would recommend that you buy the stock on dips up to the levels of around Rs 72, stoploss should be placed at Rs 67 and we would expect the stock to move to around Rs 86-88 in the next 15-20 trading sessions." He further added, "The weekly chart structure although has not positive clearly indicates that the downside momentum has been lost and the market is expecting the stock to bounce from current levels up to levels of Rs 86-88. So timeframe would be 15 days, keep a stoploss of Rs 66-67 and target of Rs 88."