IREDA - PIVOT buy point triggered for swing trade#IREDA
~ Stock bouncing back from 10 MA support
~ Looks strong for swing trade
~ Expected level to watch - 280, 290
#SWINGTRADE
IREDA trade ideas
Indian Renewable Energy Development Agency- Breakout OpportunityDate : 29-Jul-2024
LTP : Rs. 266
Next Resistances: (1) Rs. 310 --> (2) Rs. 358
SL : Rs. 232 on daily close basis
Technical View:
• NSE:IREDA is in it's primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 310 on 15-Jul-2024, it has retraced 25% to 232 level.
• On 29-Jul-2024, NSE:IREDA has broke out from its secondary down trend.
• NSE:IREDA is trading above 21 DEMA, 20 DMA and 50 DMA.
• RSI is trading in buy zone at 60.95.
• MACD is trading at 17.48.
• Looking good to start a new swing from here.
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 on the edge of a fall or riseAfter a continuous uptrend, IREDA is now completing its downtrend, which appears to have concluded at 232 on July 23rd. However, if we consider its attempt to break the trendline and move upward, it seems to be failing. Thus, we may assume it is on the edge of a blade, from where it could either rise or fall. Entry levels for this stock are provided for both scenarios, along with initial target projections.
IREDA Elliot wave analysis and targetsIREDA seems to be in wave (iii) of wave 3 (major wave) and that is supposed to be longest and strongest and hence after successfully completing C&H pattern target of 250 it is still bullish and can now target towards 300+ target.
Overall for Longer Term it is looking bullish so one can ride it using stop loss trail strategy for further up moves.
It is difficult to catch the top of this wave but Fib retracements drawn can be considered for now.
*** Please note this is not a trade advice but just chart analysis study shared for educational purpose, one must do his/her own analysis before taking any trade.
IREDA Long PositionalDate : 22-06-2024
-------------------------------------
SWING & BO RESEARCH TO OBSERVE
IREDA Looks Good @ CMP
SL 97
Target 229, 276, 323++
Hold few weeks
Please consult your financial advisor before investing
All research for educational purposes only.
IREDA - Potential VCP formation - Best buy above 192Potential VCP Breakout Seen in IREDA ( Volumes missing though)
Best to Buy Above : 192 for 215/250/300 targets
FPO on the cards for business expansion.
Stop Loss : 170
Disclaimer : Educational Content. Do your own research. !!
Long-term InvestmentIt's weekly time frame strategy for long term ... Entry when price bullish cross super trend level.. 1st target 40% share book @ 40% gain, 2nd target 30% share book @ 40% gain from 1st target... congratulation your investment is back with profit.... and also you have 30% share which is free of cost, so can hold it for life time If you want
IREDA - 30% upside potentialPrice Analysis & Overview:
1. Price is in channel, formed double bottom.
2. conviction is less since price is choppy within the channel.
3. Good volumes have started bulding.
4. Good quarterly results will be expected to kick start the momentum since price action is limited in new listings.
- Stay tuned for further insights, updates and trade safely!
- These are my personal views.
- If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading!
Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing.
Thanks & Regards,
Anubrata Ray
IREDA BREAKOUT WITH CLASSICAL ASCENDING PATTERNNeat And Clear Breakout of Ascending triangle pattern on IREDA chart on weekly basis . The Risk to reward is mentioned on the chart {1:2} ratio . The trendline with an angle of 45 degree gives more probability on the buying side , the buyers are looking more stronger with respect to the trendline, where the price is taking multiple support from the trendline is a perfect example of strong hands sitting on these levels . Recently the resistance zone has broken and Stoploss has been triggered for the sellers ,where they have to close there position which leads to bullish momentum.
HAPPY TRADING (:
IREDA LONGThe Elliott Wave analysis indicates that the stock has finished waves (i) and is nearing the end of waves (ii), which are shown by blue numbers on the daily chart.
Wave (i), also known as the impulse wave, unfolded into five waves, which are illustrated in red.
Wave (ii), also known as the corrective wave, unfolded in an a-b-c pattern, as indicated in red.
Wave c of wave (ii) is unfolding in five waves, as illustrated in the black circle. It appears that wave 5 in the black circle is still unfolding.
It is a buying opportunity on the downturn (dip).
Wave (3) will begin following the completion of wave (ii).
Wave (3) is expected to have around five subdivisions, which are highlighted in red.
Wave levels are depicted on the chart.
Level of Invalidation
The invalidation level of 50 has been identified as the starting point for wave (i). If the price falls below this level, it means that the projected Elliott Wave pattern is not as it appears.
I'm not a registered Sebi analyst. My research is done solely for academic purposes.
Please consult your financial advisor before trading or investing. I bear no responsibility for your profits or losses.
Regards, VJ.
Indian Renewable Energy Development Agency LtdTG.350
symmetrical pattern
ABOUT
Indian Renewable Energy Development Agency Ltd was incorporated as a fully owned Govt. of India enterprise under the administrative control of the MNRE. Furthermore, the company was notified as a public financial institution and is also registered as a non-deposit taking NBFC with the RBI.
The company was established for the promotion, development and commercialisation of new and renewable sources of energy and provides financial assistance to energy efficiency and conservation projects. The GoI conferred the status of Mini Ratna under Category-I upon IREDA in June 2015.
RBI classified company as “Infrastructure Finance Company”.
Indian Renewable Energy Development Agency Ltd
ABOUT
Indian Renewable Energy Development Agency Ltd was incorporated as a fully owned Govt. of India enterprise under the administrative control of the MNRE. Furthermore, the company was notified as a public financial institution and is also registered as a non-deposit taking NBFC with the RBI.
The company was established for the promotion, development and commercialisation of new and renewable sources of energy and provides financial assistance to energy efficiency and conservation projects. The GoI conferred the status of Mini Ratna under Category-I upon IREDA in June 2015.
RBI classified company as “Infrastructure Finance Company”.
KEY POINTS
Business Profile
Company is the nation's largest pure-play green financing NBFC. It provides a comprehensive range of financial products and related services, from project conceptualization to post-commissioning, for Renewable Energy (RE) projects and other value chain activities, such as equipment manufacturing and transmission.
Projects IREDA has financed projects across multiple RE sectors such as solar power, wind power, hydropower, transmission, biomass including bagasse and industrial co-generation, waste-to-energy, ethanol, compressed biogas, hybrid RE, EEC, and green-mobility.
Geographical Presence IREDA has a geographically diversified portfolio across 23 states and 4 union territories in FY24.
Loan Book
IREDA has a diversified loan book of Rs. 60,000 crs. in FY24. It has demonstrated strong growth of 27% from FY23. 75% of outstanding loan to Private Sector.
Sector Split
Solar Thermal/ SPV: 27%
Wind: 18%
Loan facility to State Utilities - Others : 14%
Hudro Power: 12%
Loan facility to State Utilities - Genco : 7%
Manufacturing : 6%
Ethanol : 5%
Others: 11%
Loan Sanctions & Disbursement
Loan Sanctions of Rs.37,353.68 Cr and Disbursements of Rs.25,089.04 Cr in FY24, registering an increase of 14.63% and 15.94% respectively, over FY23 loan sanctions of Rs.32,586.60 Cr. and disbursements of Rs.21,639.21 Cr.
Loan Concentration
Thepercentage of exposures to the twenty largest borrowers at 52.53%.
IREDAIREDA looks good above 215.
Forming an ascending triangle pattern and near the all time high breakout.
IREDA target of 250 (T&C)IREDA has completed C&P pattern and as per that it has target of 250. Most likely if this week it closes above 185 then it is a positive sign.
The target depends a lot on Election Result euphroia, in case of stable govt formation PSU stocks are likely to show rally.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
IREDA Analysis!NSE:IREDA Analysis on a Daily Timeframe!
Triangle Pattern Formation in IREDA!
Triangle Pattern Breakout in IREDA!
Analysis:
As we can see the stock in moving in a triangle since December 2023. It was continuously consolidating in it. On 27th June it tried breaking out the resistance but unable to sustain above the resistance. Today again it has been successfully given the breakout and able to close above the breakout. As i marked all the important levels on the chart please have a look.
Trade Setup:
Entry = Current price level is good to Enter
Key Level = 214.80 This is the All Time High Level, Price may reverse from this level but if it breaks, will the major uptrend
Target = 455.85
Stop Loss = Below 173 or as per your Risk To Reward
Disclaimer = Consider my analysis for Educational Purpose only.
Before entering into any trade -
1) Educate Yourself
2) Do your research and analysis
3) Define your Risk to Reward ratio
4) Don't trade with full capital
IREDA SUCCESSFUL BREAKOUTThe stock had a curcial resistance at the 215 levels which was shattered very badly also the stock looks pretty good for a swing , it can rally till 306 levels in no time
Indian Renewable Energy Development Agency Ltd30% return in 7 days.
ABOUT
Indian Renewable Energy Development Agency Ltd was incorporated as a fully owned Govt. of India enterprise under the administrative control of the MNRE. Furthermore, the company was notified as a public financial institution and is also registered as a non-deposit taking NBFC with the RBI.
The company was established for the promotion, development and commercialisation of new and renewable sources of energy and provides financial assistance to energy efficiency and conservation projects. The GoI conferred the status of Mini Ratna under Category-I upon IREDA in June 2015.
RBI classified company as “Infrastructure Finance Company”
#IREDA VCP Base BO with VolueStock was recently Listed in Nov'23
Was in Up Trend, went into SideWays consolidation (Base)
Base BO with volume in WTF + VCP BO
Indian Renewable Energy Development Agency- Breakout OpportunityDate : 6-Jun-2024
Rating : Buy - Positional Trade
LTP : Rs. 178.30
Targets: (1) Rs. 200 --> (2) Rs. 214 --> (3) Rs. 229
SL : Rs. 158 on daily close basis
Technical View:
• NSE:IREDA is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 200.25 on 3-Jun-2024, it has retraced 23% to 154 level.
• On 6-Jun-2024, NSE:IREDA has broke out from its secondary down trend with high volume.
• RSI is trading at 50.95 and MACD is trading at 2.67.
• Looking good to start a new swing from here.
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. Ideas are published for learning purpose only.
BUDGET SPECIAL Stock is looking good for both short-term and long-term view. Stock has completed the Ascending triangle pattern and given breakout of that triangle, which opens up an opportunity for investors.
As the current government is positive on the renewable energy sector and ahead of union budget, it is the right sector to put your money in for decent returns.
This analysis is just for educational purposes. Do your own research before investing in any securities.
Long IREDA looks good all time breakout after 5 months consolidation. company is doing future oriented business. IREDA has recorded Loan Sanctions at Rs. 9136 Crore and Loan Disbursements
at Rs. 5,320 Crore during 1st Quarter ended June 30, 2024, a significant growth of 382.62% and 67.61 %
respectively over corresponding quarter of FY 2023-24. Loan Book stands at Rs. 63,150 Crore, a record growth
of 33.77%.
Note Stock can be retest as shown on the chart
Only for educational purpose
Breakout soon in IREDASymmetrical Triangle Breakout Setup
RSI above 60 and rising
Trading above EMA50
Volume accumulation
~5months of consolidation
Disc: for study, not a recommendation
IREDA making Samosa pattern IREDA making samosa patterns above 200 will 216, 220, 235, 240
But be cautious..... SL apne hisab se laga lena
I'm not Sebi registered
