IRB Infrastructure Developers Ltd i will not buy at current levels but mutual funds buying the stock

IRB Infrastructure Developers Limited stock is not giving any buy signal as per my technical view. I expect the stock could come to rs 135 levels again, if it not able to sustain in that level means there is further downside. But contrary to my view, the mutual funds are started buying the stock in the last 2 weeks period. So , i would wait and watch the counter for further 1 or 2 week time to start buying the stock futures of september series.

Weekly slow stocastic technical signal is in downtrend. But on friday there is buying emerged in IRB infra stock futures.

PE ratio : 60.97

Face value : rs 10

CMP : Rs 147

IDFC under various plans invested in this stock.

. IDFC India GDP Growth Fund - Dividend
. IDFC Tax Saver (ELSS) Fund - Dividend
. IDFC Tax Saver (ELSS) Fund - Growth
etc.,

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