IREDA - Positional target 300-> CMP 222 / 1d timeframe
-> Breaking out the channel trend
-> Bouncing from the support line
-> Crossing 20/50/100 EMA
-> Positional target will be 300
-> Good Luck, Traders!
Iredabreakout
Indian Renewable Energy Development Agency- Breakout OpportunityDate : 5-Dec-2024
LTP : Rs. 220.86
Targets: (T1) Rs. 265 --> (T2) Rs. 310 --> (T3) Rs. 389
SL : Rs. 183
Technical View:
• NSE: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.
• NSE:IREDA has breakout from it's primary downtrend with higher than average volume.
• NSE: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.
IREDA up side move possiblenear the price 200 will be the best entry point in IREDA
Investment opportunity
price moving in parallel channel now going down
i thing possible to hit near swing highs and have potential to go all time high
good fundamental stock
*IREDA cmp 232.19 by Daily Chart view since it is listed**IREDA cmp 232.19 by Daily Chart view since it is listed*
- Stock hit ATH 310.00 on Monday 15-Jul-2024
- Symmetrical Triangle breakout done and sustained
- 228 to 235 Resistance Zone been Tested and Retested
- Volumes pretty flat need to increase by good quantity
- Support at 221 > 207 > 194 with Resistance at 242 > 255 > 268
- *Price closure above Resistance Zone for few days will fresh upside momentum*
