IREDATaken support and getting a rejection towards upside
Stocks is in Sunrise sector
Can expect good returns in the mid to long run
Could become a multibagger as well.
IREDA trade ideas
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Indian Renewable Energy Development Agency- Breakout OpportunityDate : 14-May-2024
Rating : Buy - Positional Trade
LTP : Rs. 173.15
Targets: (1) Rs. 185 --> (2) Rs. 214
SL : Rs. 154 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 192.20 on 29-Apr-2024, it has retraced 17% to 158.70 level.
• On 14-May-2024, NSE:IREDA has broke out from its secondary down trend with high volume.
• NSE:IREDA has also closed above 20 DMA and 21 DEMA on 14-May-2024.
• RSI is trading at 56.16 and MACD is trading at 3.07.
• 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.
The Indian Renewable Energy Development Agency (IREDA)The Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category - I) government enterprise, was established in March 1987 and is primarily engaged in the promotion, development, and provision of financial assistance for renewable energy (RE) and energy efficiency and conservation (EEC) projects.
IREDA appears to be in good health at 138 and could reach 160 ,170.....
This is solely being done for educational purposes. Please consult your advisor before to making any investments.
IREDA good setup-VCP
-5Wave Setup
-green Vol Spikes
-tightness
-Bounce from 50emas
-Squeezed b/w PP n 10emas
IREDA - Indian Renewable Energy Development Agency Ltd.Date : 3-Apr-2024
Rating : Buy - Positional Trade
LTP : Rs. 157.20
Targets: (1) Rs. 163 --> (2) Rs. 185 --> (3) Rs. 214 --> (4) Rs. 272
SL : Rs. 140
Technical View:
• NSE:IREDA is moving in down trend since 6-Feb-2024.
• After touching the life time high of 214.80 on 6-Feb-2024, it has retraced 44% to 121.05 level.
• NSE:IREDA has broke out from its down trend on 3-Apr-2024 with higher than average volume.
• RSI has crossed over 50 on 2-Apr-2024. MACD is about to crosse over 0.
• Looking good to start a new uptrend 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.
Stock for next week: IREDAVCP Breakout Setup
RSI near 65 and rising
Trading above EMA50
Breakout and retest
Disc: for study, not a recommendation
Trading Idea on IREDA with Fibonacci ExtensionNSE:IREDA
Drawing Fibonacci Retracement and Extension of recent High near 215 and Low near 121, stock is trading below 0.618 retracement level. Stock has potential to touch All Time High level if crosses above 178 and maintain to trade above 178 level on weekly closing basis.
Stock has potential to go 270 level if crosses ATH level on the weekly close basis.
Trailing Stop Loss near 0.382 retracement level i.e. around 155.
IREDA RESISTANCEThis stocks momentum is high right now due to the overall renewable energy momentum.
IREDA trade set-upNSE:IREDA has been a darling of traders since listing and now it is following a very beautiful trendline. Traders can keep this line as a stop loss and can continue riding as long as it holds it. IREDA is a PSU which finances green projects and also recently got a Narvratna status.
IREDA NEAR BREAK OUT OF VCPIREDA
Rally - Base - Rally price action
1.First Rally, then forming Base in the VCP pattern (Volatility contraction) & then again expected Rally after break out of the neck line.
2. Close above previous day High(170.4)
3. Close above last week High(169.7)
4. Close above last month High(163.7)
4. High increase in 1 month (+21.2%)
8. Promoter holding 75.00%
9. Pledged percentage 0.00 %
10. Change in Prom Hold 0.00%
11. FII holding 1.36%
12. Chg in FII Hold -0.52 %
13. DII holding 0.94 %
14. Chg in DII Hold -3.43 %
15. Stock PE 36.6
16. Industry PE 17.1
17. ROCE 9.35 %
18. ROE 17.3 %
For Educational Purpose Only
BREAKOUT IN IREDA 📌SWING TRADE FOR NEXT WEEK🚀
Hello Traders⚡
I am a Swing Trader by Passion i only trade on Momentum Stock's.
📌I Post Daily SWING CHARTS Analysis on My Trading view profile..
So let's Start
📌TRADE ANALYSIS OF -IREDA-
• Potential Breakout Chart
• VCP Pattern
• Short Range Consolidation
• Price Can Take Retest from support Line
• Overall The Price Is Moving In HH-HL Formation
• Volume Buildup Near BO Zone
• Looks Good For 10-20% Upside Levels After The Breakout
📌 If you have any questions about any stock you can comment on post 📱
📌Disclaimer:-
This all charts analysis are only for educational purposes only
I do not provide any CALL or Tips
IREDA FOR 160IREDA is one of the major part of renewable basket is looking good at level for 138.
As we do see stock is already on his. support and and we see double bottom at this level and now stock give us confirmation about trend change.
IREDA : CMP: 138
TARGET 160
SL : 124
IREDA pennant flag & volume break out- weekly chart seems pennant flag pattern and falling wedge break out
- similarly volume also breakout
- may consider when it became correction.
this analysis is for learning purpose only.
It is just a view, please trade at your own risk. I'm not SEBI registered adviser.
Inverted Flag and Pole PatternAs per the Inverted Flag and Pole Pattern definately will follow downtrend, as the revised circuit is 20%, you may short it and get good gains in short term.
IREDA Long (Positional)POSITIONAL TRADE
IREDA
Looks Good ABOVE 185
SL 99
Targets 230-265-280-300-310-322
Hold few months
Please consult your financial advisor before investing
All research for educational purposes only.
Reversal from bottom, RSI is shifting in upper direction. Stock is ready to cross past barriers with good volumes.
IREDA BUYING OPPORTUNITY IREDA is looking good if it's closed above 145-150 level in this week.
Then it can touch the level of 170-180-200 level in next 3 months.
IREDA BUYING OPPORTUNITY IREDA looking good on daily timeframe.
If it closed above 145-150 level this week then we can expect the up move towards 170-180-200 level in next 1-3 months.
IREDA Daily TFIREDA Daily TF chart
W pattern Breakout
Trendline breakout
Invalid below 125 daily close
IREDA is taking support at previous resistance levelAfter the IPO IREDA performed very well and after giving the breakout at 120 level now it had taken support at the same level and also given the breakout form its narrow consolidation or buildup range. Stop loss below 121 since it can come back to 40 RSI (which is my assumption)
IREDA if breaks 120 leave then we can grab it by 102 blindly IREDA if breaks 120 leave then we can grab it by 102 blindly
IPO breakout IPO breakout after the trend line was successful,
now in a descending pattern triangle consolidation zone,
daily volume aren't satisfactory, wait for the volume conformation.
Note: I did my research, do yours before trade.
