Indian Energy Exchange : The stock has been a laggard since the last 15 odd months Mr. Sameet Chavan, Angel One Ltd
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Below is the Indian Energy Exchange By Mr. Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd
IEX is an Indian electronic system-based power trading exchange regulated by the Central Electricity Regulatory Commission (CERC). The stock has been a laggard since the last 15 odd months. Stock prices tumbled in the last couple of sessions after the reports said that the power ministry has directed the CERC to undertake the ‘Market Coupling’ mechanism for spot power trading. Technically speaking, we do not see any near-term relief in the prices as the decline is backed by humongous volumes. The stock is trading at new 2-years low and hence, we advise traders to stay away from the stock till the time things do not stabilise.
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