Ixigo Stock Momentum AnalysisIxigo Stock Momentum Analysis
Current Price Action:
Ixigo is currently trading at ₹165.6, showing strong momentum with potential for further upward movement. Recent price action and technical indicators suggest an attractive risk-to-reward setup.
volume is also supporting the move
Trading Levels:
Entry: ₹166
Stop-Loss (SL): ₹153 (below key support, limiting downside risk).
Target: ₹183 (near the next resistance zone, offering a solid reward potential).
Technical Outlook:
Trend: The stock was in consolidation phase now it is coming out from consolidation with very gud volume also supported by 20MA on daily time frame ,
Indicators:
RSI: Currently at 68 indicating bullish strength without overbought conditions
Volume: Increased trading volume suggests strong investor interest, supporting the upward momentum.
Trading Plan:
Enter at ₹166 for an optimal risk-reward setup.
Place a strict SL at ₹153 to protect against unexpected downside.
Book profits at ₹183 as the price approaches the next resistance level.
Risk-Reward Ratio: Approximately 1:1.31, making this a well-balanced trade for momentum-focused investors.
Disclaimer: This analysis is for informational purposes only. Please conduct your own research before making any trading decisions.