INDIAN ENERGY EXCHANGE ( IEX )

IEX has given Breakout from (0) and (B) trendline with good intensity of volume in daily time frame, Wave structure is also suggesting impulse move ahead, Now wave 4 has seen a long consolidation and we may be ready for wave 5, as wave 5 unfolds we may go towards 350 and 380 plus areas, All other indicators like macd, rsi, dmi adx, bollinger band, and stochastic are also suggesting positive trend ahead, One can go long at current levels or in dips (if any) with mentioned stop loss for mentioned targets on chart.

Wave structure could be like this
Breakout with good intensity of volume
key levels are mentioned on chart along with stop loss and targets
Volume decreased in corrective phase
MACD in weekly running in positive and now uptick that too above zero line
MACD in daily positive crossover and now uptick that too above zero line
rsi uptick and above 60 and 70 in daily time frame
upper bollinger challenged in daily time frame
dmi adx positive ungali setup in daily

Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses