IEX- Trade Plan
IEX is most favorite among retail investors. hence its down for long time.
Now its changing its character. about to give 52W break out.
I am going to add to my already existing position from the Breakout.
Entry @ 164
Stop Loss @ Previous week Low (Trailing SL)
Target 0.5 @ Sell side VWAP
Target 1 @ 252
Target 2 @ 300
IEX is forming a bullish pattern in its chart and it is fundamentally strong player with its potential upcoming subsidiaries, e.g., Indian Carbon Exchange and Indian Coal Exchange.
Fresh entry suggested after breakout of point B.
targets are possible till point D.
SL at point C.
THE IDEA IS FOR EDUCATIONAL PURPOSE TRADE AT OWN RISK...
There were a lot of issues going around the stock related to market coupling which I'm not fully aware of. So since I was in profit and the market was in a kind of inflection levels, I decided to book profit in the stock and allocate the capital somewhere else in which I have a clear conviction of, as of now.
But I'm well aware that the price might rally for...
Breakout of Inverted H&S pattern has been done on IEX and currently I'm waiting for the retest at the neckline to take it to the upside.
Expected Targets are:
TP1 - 143.05
TP2 - 150
Price is contracting at the moment, am expecting a huge move to the upside provided support holds....I'm personally invested in this stock....Levels are shown....
IEX is a market leader with 94% market share in electricity exchnge.
Monopoly stock with awesome fundamentals and future growth.
Target of 153% till price of 316 can be achieved in till next Sept 24
