IEX -- POSITIONAL -- 2022

IEX.. indian Energy Exchange Ltd. positional stock pick cause of strong bullish technical indicator. stock is high volatile in nature ..but once breakout
gives good momentum upside in few sessions. stock seen hourly chart breakout with good volume . stock seen double bottom formation before breakout at strong support zone and at breakout golden cross over of 3 SMA..20,50,200 clearly seen.

stock from present cmp 265.95 can give 10 to 20% upside move in short term.

TECHNICAL bullish indicators

1. RSI at mid range.
2. MACD above signal and center
3. Golden moving avg crossover
4. Double bottom formation
5. Trendline breakout.


PLEASE DO OWN ANALYSIS THIS IDEA CAN USE EDUCATIONAL PURPOSE..take call at own risk . !!

WISH you happy trading. !

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EDUCATIONAL TIP : Golden cross ..Short term moving avg cross long term moving avg from downside called moving avg cross ..but when either 20, 50, 100 SMA cross 200 SMA from downside called as golden cross cause in this case momentum very strongly bullish ..

Most of trader call moving avg cross as golden cross is not true. golden cross happen when any moving avg cross 200 moving avg from downside this is fact. !!

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IEX NEWS : Board meeting to be held 24th jan 2022 Declare Q3 RESULT.. Announce interium Dividend . !!

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IEX support and Resistance from buy level.

S1- 265
S2- 260
S3- 250

R1-272
R2-278
R3-290

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At today's closing Bullish doji heikin ashi candle form on daily chart. ! 14/01/2022

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BACKTEST : History of positional trade last 3 month

Total Positional Trade : 12
Target Hit : 8
Stop loss hit . 0
Active trade : 4

successful Trade % = 100%

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IEX broken today unexpectedly but strong support around 250 Level to bounce back.