IREDA: loss book karne ka IRADA?the counter has given shock...today is 5th day consecutive lower circuits, though I feel this may be the end of LCs, stock is at its channel bottom, also it has touched fib level. The confluence tells that it may have reach a good support hence we may see a northwards movement from here. Any further fall ie below 152 may cancel the above analysis. Time 10:20 AM- IREDA in LC
IREDA trade ideas
IREDA Trend AnalysisPrice is moving inside a rising wedge pattern as highlighted in grey.
It is a bearish pattern unless the price breaks out of the upper trendline.
To keep it simple, buy when the price reaches near the lower trendline and sell when price reaches near the upper trendline.
Around 65 % upside potential is there if bought near 155 level for a target of around 260 level with SL @ 140.
Then it can fall to 100 odd levels for fresh buying.
Will update if any changes will happen regarding price pattern.
Do your own due diligence before taking any action.
Peace!!
IREDA - Indian Renewable Energy - Buy OpportunityAs per previous chart history and technical analysis along with Fundamental inputs of the stock, it indicates that you can buy or hold your stock for profit in short term as per chart analysis.
Wait for reversal for better entry or Buy at 124 and hold for big profit.
If broken downward, a big bearish trend is seen on the downside chart
All major points & downward levels mentioned on chart
Do your own research because I am not SEBI registered person and this is my personal opinion about this stock
Thanks for your support as always