Indian Renewable Energy Development Agency- Breakout Opportunity
Date: 29-Jul-2024
LTP: Rs. 266
Next Resistances: (1) Rs. 310 --> (2) Rs. 358
SL: Rs. 232 on daily close basis
Technical View:
•
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,IREDA has broke out from its secondary down trend.
•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.
LTP: Rs. 266
Next Resistances: (1) Rs. 310 --> (2) Rs. 358
SL: Rs. 232 on daily close basis
Technical View:
•
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,
IREDA has broke out from its secondary down trend.•
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.
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