IREDA Testing Crucial Horizontal Support Zone at 111About the Chart:
Based on the weekly timeframe, Indian Renewable Energy Development Agency Ltd. is currently at a critical technical juncture.
After a prolonged downtrend from its highs near 310, the stock has corrected significantly and is now hovering right above a major horizontal support line drawn at 111.20.
The current price sits at 113.22, showing a tight consolidation near this floor.
Because this is a weekly chart, this 111.20 level acts as a strong make-or-break zone; a successful de
Multiyearsupport
PONNI SUGARS ERODE is ready to EXPLODE
This is a NO BRAINER.
Beautiful multi year retest at support from 2013.
All you need here is Patience.
Further the company fundamentals are good too.
Debt Free
The Co. became a zero debt entity by end Q1 FY22, while temporary surplus funds are being parked in Bank FDs, pending capex spend on its ethanol project.
- Company is almost debt free.
- Stock is trading at 0.76 times its book value
- Company is expected to give good quarter
- Debtor days have improved from 45 to 19 days.
- Compa



