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IEX ready to break the channel, most probably on upside.
INDIAN ENERGY EXC LTD
Long
IEX ready to break the channel, most probably on upside.
By baniyabeast
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Sep 25, 2020
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Sep 25, 2020
IEX is closing to break 9 month channel, most probably on upside.
IEX made 7 attempts on to break 198 levels, it cleared in 8th attempt but sharp pullback in Nifty threw it in channel again.
IEX has made 5 higher highs and that's interesting.
IEX's 50 DMA is 188.50 and offers good support.
With 184.50 SL (3%) it offers significant upside in coming days if market is stable.
Risk:Reward 1:5
Chart Patterns
Technical Indicators
Trend Analysis
baniyabeast
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