IEX trade ideas
IEX- Elliott Wave AnalysisHi Guys !
Today updated chart of IEX - Indian Energy Exchange (NSE). It seems the correction in the instrument has finished and it might be moving in an impulsive upside move.
In lower time frame it seems made a leading diagonal and a heavy correction after that. The levels has been marked in chart as I could see.
We are in major wave 3 of the instrument.
Please study the chart carefully. The chart is for educational purpose any losses will sole responsibility of the viewers.
Thank you.
Pls motivate if you like the analysis.
IEX - Reverse Head and Shoulders Pattern Being a monopoly and with good fundamentals the company has given a massive discount of 50%
Now I think it's a good time to buy and hold as it has formed a reverse head and shoulders.
One can go for buy at 152 and can hold till 164 for a short time period.
Apart from all these the company is offering a buyback at 200.
This is my view please make a thorough check from your end before going for a buy.
IEXIEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity.
Book Value 7.5
Current P/E : 41.9 ; Median P/E : 35
Trading below 10 , 21 , 63 , 100 , 200 EMA in daily chart
Below 50 % in Fibonacci Retracement , Trying to to take support @ 0.618
Bullish wedge - agreesive investors can add now and at 130 level Support , with SL 125.
Target Specified - 168 , 200 - Longterm
IEX Positional Up Side Idea.NSE:IEX is now ready to make breakout for up side. My idea is to take entry once price retest level of 140.
Then put a stop loss of 10 Points (SL 130) and hold positionally till bigger targets of 145, 152, 163 & 177. It could be very best risk and reward option.
Note: This is my personal analysis, only for learning.
Thanks.
IEX:- LONG-TERM VIEW
There is a lot of talk going on behind IEX As it has corrected more than 60 percent from top.
There are two many reasons behind that.
But this is a fundamentally good stock and think it's time to start accumulating the Stock for a long time, A pe come down to 40 from 100 and EPS is around 3.5 (2% growth from last quarter )
Public holding is increasing and fiFIIi is decreasing which is not a good sign but I am buying for the long term,
like the insurance market power exchange is a huge expansion potential as only 6-7 percent of electricity is traded electronically.
in comparison to developing countries, where power traded in exchange is around 30-50 percent.
some of the following reasons for buying (source: money control)
Growth in Quarterly Net Profit with increasing Profit Margin (YoY)
Company with No Debt
The strong cash-generating ability from core business -
Improving Cash Flow from operation for the last 2 years
A company able to generate Net Cash - Improving Net Cash Flow for the last 2 years
Annual Net Profits improving for the last 2 years
ps:- I started accumulating around 140 but with a very small quantity in a SEP manner.
this is not a recommendation. Do your research before taking a trade.
IEX IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity.
Book Value 7.7
Current P/E : 41.9 ; Median P/E : 35
Trading below 10 , 21 , 63 , 100 , 200 EMA in daily chart
Below 50 % in Fibonacci Retracement , Trying to to take support @ 0.618
Neutral - HOLD
