IREDA vs. IRCTC: Tracking Parallel Stock Successes

17 thg 1

Disclaimer:
Trading in financial markets involves substantial risks. Please consult your financial advisor before making any trading decisions. This message is not a solicitation to buy or sell. Perform your due diligence.

WaveTalks - Market Whispers: Can you hear them?

Analysis Overview:

IREDA's performance in the stock market is drawing attention, much like IRCTC did in 2019. Trading at 119.50, a significant rise from its listing at 50, IREDA is experiencing strong and impulsive market waves. This suggests a big growth potential, aiming for targets of 155, 175, and 190.

Key Points of Analysis:

1. Remarkable Growth Since Listing:
IREDA's stock value has more than doubled since its listing, showing strong investor confidence and favorable market trends.

2. Potential for More Growth:
The trend suggests IREDA is in a bullish phase. Its steady rise indicates an impulsive wave pattern, often leading to quick price increases.

3. Projected Targets with Support Levels:
The targets for IREDA's stock are 155, 175, and 190, assuming it stays above the support levels of 107.50 (minor) and the important 100 level (critical support). These targets are based on the stock's current momentum and market optimism.

4. Buying Triggers -
Buy This Stock above 127.50 post breakout or Buying close to 110-112.50 zone which retraces the latest impulsive (103 to 127.40 at minor degree) by 61.8%

5. Current Wave Analysis:
The stock is currently in its 5th wave of growth within first impulsive wave sequence from the listing price of 50, which is still unfolding.

6. Comparison with IRCTC:
Though they operate in different sectors, IREDA's growth mirrors IRCTC's early success in the stock market. Both being public sector companies, they've attracted significant investor interest.

The Last Idea on IRCTC – Stellar Debut -The Next Station Please?

7. Investor Sentiment and Industry Prospects:
The positive market reaction to IREDA is partly due to its involvement in the renewable energy sector. With growing global focus on sustainability, IREDA is at the forefront of an expanding industry, increasing its attractiveness to investors.


Concluding Thoughts:
IREDA's stock, with its strong growth and potential for further rise, is a key player in the market. Investors and analysts should watch its progress, as IREDA might replicate or even exceed IRCTC's success. The unfolding 5th wave in its stock pattern and the ambitious targets further emphasize this potential.

WaveTalks - Market Whispers: Can you hear them?

17 thg 1

Ghi chú

10:50 am / 17th Jan 2024

Last @123.40

Market opened close to 110-112.50 zone - somewhere at 114 & pushed upside in corrective fashion making highs of 125.60

Day high at this moment at 10:48 am------ 125.60

If stock crosses above 127.40 to continue upside or we look for slip once again in the day session close to 110-112.50 zone suggested in main idea as 2nd opportunity to buy the stock

Kindly note - avoid buying below minor support : 107