Hey Everyone! Ideaforge just broke out from a double bottom chart Pattern Neckline, and it looks like a potential trend reversal is in motion. With the breakout confirmed by a volume surge, it seems that smart money might be entering, which is a positive sign for the stock. The technical setup is strong, but let’s dive deeper into the fundamentals to get a clearer picture.
While Ideaforge faces challenges like limited profitability in the past, its future outlook looks promising. The company holds a strong position in India’s drone industry, and 92% of its revenue comes from defense contracts, making it heavily reliant on government spending. Recent developments like drones being used in India-Pakistan border tensions have brought Ideaforge’s technology to the forefront, creating a positive sentiment shift in the market. This real-time application in national security could significantly boost its future growth, especially with the rise in demand for advanced drone technology in defense.
For entry, Stop loss and Target check Chart above!
Disclaimer: This analysis is for educational purposes only. Please consult a financial advisor before making investment decisions.
If you found this helpful, don’t forget to like, share, and drop your thoughts in the comments below!
While Ideaforge faces challenges like limited profitability in the past, its future outlook looks promising. The company holds a strong position in India’s drone industry, and 92% of its revenue comes from defense contracts, making it heavily reliant on government spending. Recent developments like drones being used in India-Pakistan border tensions have brought Ideaforge’s technology to the forefront, creating a positive sentiment shift in the market. This real-time application in national security could significantly boost its future growth, especially with the rise in demand for advanced drone technology in defense.
For entry, Stop loss and Target check Chart above!
Disclaimer: This analysis is for educational purposes only. Please consult a financial advisor before making investment decisions.
If you found this helpful, don’t forget to like, share, and drop your thoughts in the comments below!
Trade active
It is heading towards 1st Target! Solid move ahead. 
Rahul Pal (TradingView Moderator)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Rahul Pal (TradingView Moderator)
Live Market Analysis on YouTube (8:45 AM - 3:30 PM): spf.bio/TArir
Free Telegram: spf.bio/c1lkb
Join Trading Community: realbullstrading.com
WhatsApp: wa.me/919560602464
Live Market Analysis on YouTube (8:45 AM - 3:30 PM): spf.bio/TArir
Free Telegram: spf.bio/c1lkb
Join Trading Community: realbullstrading.com
WhatsApp: wa.me/919560602464
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.