IEX Bullish Base Formed

Feb 6

IEX today gave a good up move, confirming the recent base as a strong bullish base, recently it posted its monthly volumes in Jan up 16% YoY.

About:
IEX provides an automated platform and infrastructure for trading electricity units for the physical delivery of electricity.

F&O Activity:
Long Buildup in Futures with 180 PE Gaining Significant OI.

Trade Setup:
Looks like a good 1:1 trade setup with the recent base as a strong support zone, RSI and MACD trending upwards.

Target(Take Profit):
Around 206 Levels for Swing & Positional Trader.

Stop Loss:
Entry Candle Low for Swing Trader and Recent Base for Positional Trader.

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Disclaimer: "I am not SEBI REGISTERED RESEARCH ANALYST AND INVESTMENT ADVISER."
This analysis is intended solely for informational and educational purposes only and should not be interpreted as financial advice. It is advisable to consult a qualified financial advisor or conduct thorough research before making investment decisions.

Feb 7

Trade active

DOJI
RSI AND MACD Positive

Feb 10

Note

Got Selling Pressure
RSI AND MACD is Still Bullish

Feb 11

Note

Selling Pressure Continues.
RSI Below 50.
MACD Near Reversal.
Might Retest Base.

Feb 13

Note

Selling Pressure Continues.
RSI Below 50.
MACD Near Reversal.
Might Retest Base.

Feb 17

Trade closed manually

Gave a 2% Upmove from Base.
Aggressive Trader Book out 50% as Looking Weak