IREDA – Strong Bullish Continuation Setup After Healthy Consolid
⚡ IREDA – Strong Bullish Continuation Setup After Healthy Consolidation
Chart: IREDA – Daily Timeframe
IREDA is showing a bullish continuation pattern after consolidating in a tight range near ₹140. The stock has formed a higher low structure, and recent breakout candles with rising volume suggest a renewed upside momentum.
🔹 Technical Highlights:
Ascending triangle breakout around ₹190
Strong support near ₹130–135 range
RSI rising above 60 – bullish strength confirmation
Price holding above 20 EMA and 50 EMA, signaling trend support
Volume breakout confirms buying interest from lower levels
📌 Trade Setup:
Entry Zone: ₹189–190
Target 1: ₹220
Target 2: ₹256
Stop Loss: ₹150 (closing basis)
The stock is part of the renewable energy theme and could see strong interest from positional traders and investors if broader market sentiment supports.
⚠️ This analysis is for educational purposes only. Always manage your risk and do your own research before taking any position.
Chart: IREDA – Daily Timeframe
IREDA is showing a bullish continuation pattern after consolidating in a tight range near ₹140. The stock has formed a higher low structure, and recent breakout candles with rising volume suggest a renewed upside momentum.
🔹 Technical Highlights:
Ascending triangle breakout around ₹190
Strong support near ₹130–135 range
RSI rising above 60 – bullish strength confirmation
Price holding above 20 EMA and 50 EMA, signaling trend support
Volume breakout confirms buying interest from lower levels
📌 Trade Setup:
Entry Zone: ₹189–190
Target 1: ₹220
Target 2: ₹256
Stop Loss: ₹150 (closing basis)
The stock is part of the renewable energy theme and could see strong interest from positional traders and investors if broader market sentiment supports.
⚠️ This analysis is for educational purposes only. Always manage your risk and do your own research before taking any position.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.