Stock of the day : Buy Indian Energy Exchange Ltd For Target Rs. 199

2025-04-17 11:16:28 am | Source: Religare Broking Ltd

Stock of the day : Buy Indian Energy Exchange Ltd For Target Rs. 199 - Religare Broking Ltd

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Indian Energy Exchange Ltd

Buy Indian Energy Exchange Ltd CMP 186.61 Range 186-187 SL 180 Target 199

* After experiencing a significant decline from 244 odd levels, the stock turned sideways and formed a sturdy base above its long term moving average i.e. 200 WEMA.

* The consolidation resulted into an inverted head and shoulder formation, a classic reversal pattern signaling the change in the direction of the trend.

* The breakout from the mentioned pattern coupled with notable volumes, supports the outlook for an uptrend.

* Traders can consider long in the mentioned range.

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Stock of the day : Buy Indian Energy Exchange Ltd For Target Rs. 199 - Religare Broking Ltd

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