IRCON - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.2

Here’s a comprehensive technical analysis of IRCON International Ltd (IRCON)

📊 Trend Overview

Phase: Trending upward with resistance retest

Price Action: Trading at the 200-DMA (₹186) and above the 50-DMA (₹177), indicating bullish bias with a potential breakout setup.

Volume: Significantly below average (37.2L vs 101.6L), suggesting reduced momentum and possible consolidation.

📈 Momentum Indicators

RSI (62.7): Bullish zone — approaching overbought territory, indicating strength but caution for short-term traders.

MACD (2.44): Positive and diverging — confirms bullish momentum.

Bollinger Bands: Price likely near upper band, suggesting strength with potential for short-term pause or pullback.

🧭 Chart Patterns

Rounded Base Formation: Price recovery from ₹134 forming a smooth base — bullish continuation setup.

Trendline Support: Rising trendline from ₹134 remains intact, supporting the current structure.

🔍 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 177 50-DMA, short-term base

Support 2 165 Previous swing low

Support 3 150 Long-term support zone

Resistance 1 190 Minor resistance zone

Resistance 2 205 Pre-high congestion zone

Major Resistance 241 52-week high

🎯 Entry & Exit Zones

Optimal Entry: ₹177–₹186 (on dips with volume confirmation)

Short-Term Target: ₹190–₹205

Exit Zone / Stop-Loss: ₹165 (below swing support)

🔄 Short-Term Outlook

Momentum: Strong and accelerating

Bias: Bullish above ₹177; cautious below ₹165

Phase: Trending — with breakout potential

🧠 Key Takeaways

IRCON is in a healthy uptrend supported by bullish indicators and proximity to its 200-DMA.

RSI and MACD confirm momentum, while moving averages reinforce trend strength.

A decisive close above ₹190 with volume could unlock upside toward ₹205–₹241.

Let me know if you’d like a chart visualization or screener of similar breakout infrastructure stocks.

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