Indian Renewable Energy Development Agency- Breakout Opportunity
Date: 5-Dec-2024
LTP: Rs. 220.86
Targets: (T1) Rs. 265 --> (T2) Rs. 310 --> (T3) Rs. 389
SL: Rs. 183
Technical View:
•
IREDA was going through it's primary downtrend since 15-Jul-2024.
• After touching the high of 310 on 15-Jul-2024, it has retraced 41% to 181.40 level.
•IREDA has breakout from it's primary downtrend with higher than average volume.
•IREDA is trading above 20 DEMA and 50 DEMA since last couple of sessions.
• RSI is in buy zone and trading at 62.74. MACD has crossed 0 line on 5-Dec-2024 and trading at 1.19.
• Looking good to start an upward journey from here.
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Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
LTP: Rs. 220.86
Targets: (T1) Rs. 265 --> (T2) Rs. 310 --> (T3) Rs. 389
SL: Rs. 183
Technical View:
•
IREDA was going through it's primary downtrend since 15-Jul-2024.• After touching the high of 310 on 15-Jul-2024, it has retraced 41% to 181.40 level.
•
IREDA has breakout from it's primary downtrend with higher than average volume.•
IREDA is trading above 20 DEMA and 50 DEMA since last couple of sessions.• RSI is in buy zone and trading at 62.74. MACD has crossed 0 line on 5-Dec-2024 and trading at 1.19.
• Looking good to start an upward journey from here.
Liked the analysis? Boost/Like this idea and follow my ID.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
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.