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INDIAN ENERGY EXCHANGE LIMITEDINDIAN ENERGY EXCHANGE LIMITEDINDIAN ENERGY EXCHANGE LIMITED

INDIAN ENERGY EXCHANGE LIMITED

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IEX trade ideas

Strategy : Buy in Dips using Support Zone & EMAIEX is an Indian Company in Power Sector. Recently after forming a Bearish Bat, Share price fell by almost 20% from 303 to 235 The RSI of the company also reached 30 level - Key level for bounce back After taking support at its previous low that is the W pattern low 1 at 236- 232 zone ( purple rectangle in chart ), The share has shown a healthy bounce led by the Bullish Kicker and is trading at 254 now. If it follows the trend of bouncing from EMA 100, one can look for targets at previous Highs of 300 and 317 In a rising market, EMA is a good tool to catch the Dip if price shows a healthy initial bounce. Stop loss at 230 that is previous low will warrant a reward risk ratio of 5:2 The share fundamentals are strong and has a PEG Ratio of 1.8. PEG ratio above 1 is generally considered good. The EPS of the company has been on a rising trend and can be a good long term pick as well. Thanks for reading! I am pretty much self taught in Harmonics, so in case I missed something, let me know in the comments. Note : This is purely for Educational purposes and not to be considered as an Investment Advice.
NSE:IEX
by Aayush_Rungta
24
IEX:Elliot wave labels+analysis+trade setup+observationsIEX is showing impulsive rise post covid low's.Currently we are in Primary wave 5 (which has taken a form of ending diagonal as it's 5 intermediate wave has 3-3-3-3-3 internal structure)intermediate wave 4 minor C,which can end near 200 odd levels. Following are the reason for intermediate wave 4 to end around 200-206 levels. 1)100% extention of minor A for minor C is coming @ 199 2)Intermediate wave 2 price action zone is 206-190,wave 4 in ending diagonal does enter and end in wave 2 price action zone. 3)We have raising trendline connecting primary wave 2 and primary wave 4 lows coming @ 190 which will keep on increasing there by giving us a zone of 190-200 as probable support. 4)we have 200 day ema at 180,and by the time we form wave 4 low's this too will rise towards 190 odd levels which can act as support. Analysis: So as of now we are in Primary wave 5 intermediate wave 4 minor C,meaning we can see current fall taking prices towards 200 odd levels,from there we can still get a last push on the upside in the stock in the form of intermediate wave 5,however this is the least ideal time for taking a long entry still for short term trader with pre-defined exit one can expect 10% move on the up side once price reverse's from 190-206 zone giving us a final target of 220.Stop-loss for this trade would be the intermediate wave 4 low's,trade setup criteria is discussed below. Trade setup Criteria: Again for entry one needs to have bullish reversal candle along with price crossing 9 day ema and breaching 2-4 trendline of minor wave C.Momentum indicator can be used to check oversold levels.Enter once price follows this criteria after entering 190-206 zone,and keep the reversal candle low as initial stop-loss for an upside target of 220. Observation: Wave-1:Leading diagonal Wave-2:Regular flat Wave-3:200% Extention of wave 1 Wave-4:Running falt Wave-5:Ending diagonal. Alternation between wave 2 and wave 4 is seen in terms of prior wave retracement,price,pattern and time. Disclaimer:This are just my views on this stocks,no position should be build or exited solely on its basis.I am putting this analysis for my future reference.
NSE:IEXEducation
by UNDERDOG-29
7