ShriramN

Ascending Triangle Pattern on Indian Energy Exchange Ltd.

Long
NSE:IEX   INDIAN ENERGY EXCH
IEX Ltd. experienced a consolidation of one month. This consolidation has the ascending support line forming the ascending triangle . The daily chart of IEX Ltd. has given an upward breakout to the ascending triangle on 12th March 2021. This breakout signals the continuation of the existing uptrend. I anticipate the first price target of Rs .375 and suggest the stop loss at the level of Rs .317. The stop loss should be trailed by the rule of downward crossover of the 5 EMA to 26 EMA .

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