Buy IRB Infrastructure Developers at lower levels, says Shardul Kulkarni, Sr Technical Analyst, Angel Broking.
Kulkarni told CNBC-TV18, "Any dip incase of IRB Infrastructure Developers should ideally be used to enter into it rather than to move out from it. The stock has actually moved pass the 50 day moving average at the levels of around Rs 190 and it is consolidating at these levels. So any dip towards these levels, presently the stock is around Rs 200, so any dip below Rs 200 should be used to accumulate rather than to exit out from it."
He further added, "We see that the stock will move higher in the next couple of trading sessions. A short term resistance does exist around the Rs 230 mark where in the traders can probably book profits."
Disclosure: It is possible that we have the stock in our portfolios and we have recommended them to our clients.
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