IEX MIGHT SEE A SELL OFF IN UPCOMING DAYSIEX is looking good to short
Technical reasons for the trade
1. The stock is resisting and taking support from the trendlines which are in color
2. The stock took support from a red trendline 2 times now it is trading near that trend line so it might break it and also it is trading near its 200ema so this might also be broken.
3. The stock formed a bearish flag pattern and recently it had given a breakout.
Fundamental reasons
1. Due to the US market crash we could expect a small correction in the upcoming days.
2. Due to LIC IPO the market will see a sell-off.
3. The recent results of the stock are also bad so there is a bad sentiment in the market.
So, we must short it when it breaks it 200ema and the pattern height could be taken as a target.
IEX
IEX Indian Energy Exchange Analysis !!📈 IEX ( Indian Energy Exchange ) 📉
Today broke out from a downtrending Trendline Zone on closing basis.
On Buy Side I am looking for Targets of 238, 266 followed by 295.
StopLoss should be kept at close below 216.
It offers 1:5 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
IEX, buy the dip ?!Hello traders,
sorry for the delay, was not able to post ideas for long time.
"Indian Energy Exchange" (IEX in short) is a very good monopoly stock with strong fundamentals.
I hope you guys know about it.
now the stock has given a good retracement after trendline breakdown which is a good time to buy the dip.
also gave good confirmations for support reversal (mentioned in chart).
one can make a good buy here for investment and swing trading as well.
rest details mentioned in the chart. hope it help you. don't forget to like and share. it motivates me to post more ideas like this.
Keep risk management in check, have proper SL in trading ( not much required in investment ) and trade safely!
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Aniket.
keep learning and keep earning.
IEX: AnalysisINDIAN ENERGY EXCHANGE (IEX)is India's first and no. 1 electricity exchange. It is a transparent, neutral, demutualized, nationwide, automated, online electricity trading platform. It enables efficient price discovery and price risk management for participants of the electricity market including industries eligible for open access through anonymous platform.
CMP: 238.70
IEX now facing down trend. very critical Support zone. Market Retraced on 238 and go down up to 202 to 166. best for short.
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If you want to know about your stock please mention in comment.
IEX Wedge Formation: Ready for breakoutIndian Power and Energy sector is in a bull run of its own and we are seeing several stocks in this sector that are performing well. IEX also looks really good with a wedge formation. Wedges are essentially neutral patterns made up of a resistance and a support line. Breakout on either side should enable you to take a position. Since this particular stock and the sector overall has been in a big bull run, I believe that IEX can breakout on the higher side as the wedge is getting squeezed.
IEX -- POSITIONAL -- 2022IEX.. indian Energy Exchange Ltd. positional stock pick cause of strong bullish technical indicator. stock is high volatile in nature ..but once breakout
gives good momentum upside in few sessions. stock seen hourly chart breakout with good volume . stock seen double bottom formation before breakout at strong support zone and at breakout golden cross over of 3 SMA..20,50,200 clearly seen.
stock from present cmp 265.95 can give 10 to 20% upside move in short term.
TECHNICAL bullish indicators
1. RSI at mid range.
2. MACD above signal and center
3. Golden moving avg crossover
4. Double bottom formation
5. Trendline breakout.
PLEASE DO OWN ANALYSIS THIS IDEA CAN USE EDUCATIONAL PURPOSE..take call at own risk . !!
WISH you happy trading. !