If we look at the daily chart of IREDA, this stock is moving forward by forming higher high, higher low pattern on the chart from March 21, 2024. There is a trend line going from below on the chart, if it remains above this stock will remain strong.
IREDA's shares closed at Rs 170.65 on the Bombay Stock Exchange on Friday, 2.03% higher than Thursday's close.
After this, investors booked profits in March and IREDA saw the level of Rs 122, from where it got new buyers and once again took the upward path. IREDA shares closed at Rs 170.95 with a rise of 2.21 per cent on Friday. Buyers are once again becoming active in this stock.
If we look at the daily chart of IREDA, this stock is moving forward by forming higher high, higher low pattern on the chart from March 21, 2024. There is a trend line going from below on the chart between March 21, 2024 and April 26, 2024, if it remains above this stock will remain strong.
IREDA seems to be forming a W pattern around the price of its next resistance level 182. If IREDA goes above the level of Rs 182, it can once again go up to the level of Rs 214.
Experts believe that in the coming days, IREDA may consolidate in the price range of 165 to 175 and may move upwards by creating proper price action in this range.
Investors must make their own investment decisions based on their specific investment objectives and financial position and only after consulting such independent advisors as may be necessary.
IREDA gets Navratna status, bullish pattern is forming on the chart, see important levels
Public sector Indian Renewable Energy Development Agency (IREDA) said on Friday that the government has given it 'Navratna' status. According to a company filed in the stock exchanges, IREDA has now got Navratna status. With this the total number of Navratna public enterprises has increased to 17.Navratna status means that these companies have the autonomy to invest up to ₹1,000 crore. IREDA is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.IREDA's shares closed at Rs 170.65 on the Bombay Stock Exchange on Friday, 2.03% higher than Thursday's close.
What does IREDA's chart say?
It hasn't been long since IREDA was listed. Listed on 29 November 2023, IREDA had hit a high of Rs 64 on its first day and the rise has continued thereafter. IREDA hit its all-time high of Rs 214.80 on 06 February 2024, just after 44 trading sessions of listing.After this, investors booked profits in March and IREDA saw the level of Rs 122, from where it got new buyers and once again took the upward path. IREDA shares closed at Rs 170.95 with a rise of 2.21 per cent on Friday. Buyers are once again becoming active in this stock.
If we look at the daily chart of IREDA, this stock is moving forward by forming higher high, higher low pattern on the chart from March 21, 2024. There is a trend line going from below on the chart between March 21, 2024 and April 26, 2024, if it remains above this stock will remain strong.
IREDA seems to be forming a W pattern around the price of its next resistance level 182. If IREDA goes above the level of Rs 182, it can once again go up to the level of Rs 214.
Experts believe that in the coming days, IREDA may consolidate in the price range of 165 to 175 and may move upwards by creating proper price action in this range.
Investors must make their own investment decisions based on their specific investment objectives and financial position and only after consulting such independent advisors as may be necessary.
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