ivrcl infra share price target in 2013
ivrcl infra share today closed at 32.8 with loss of almost 9% and strong sellers volume.on above historical chart we can see ivrcl infra share in absolute downtrend and in last 2 and half years comes from 190 to 30 levels so lost almost 85% in price over 2 years time period.
on above chart we can see ivrcl infra share hit all time low of 13 rupee in 2008 crash and then recent low of 27 in 2012 on weak trend and bad news flow.currently same happening and this news flow may set new low in ivrcl infra share.
for 2013,we are bearish on ivrcl infra share and below 49.5 remain sell or stay away.on downside first major support at 23 and may slips to this levels on account of news flow and technically also.below then possibly heading towards penny stocks lists?
if cross 49 level in 2013 any time in 2013 on weekly closing basis then upside revised targets for 2013 will be 72 and then 97.
those who brought stock in recent fall use 30 level as stoploss on closing basis.