IEX - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.8

Here’s a detailed technical analysis of Indian Energy Exchange Ltd (IEX)

📊 Trend Overview

Phase: Reversing with weak momentum

Price Action: Trading below both 50-DMA (₹153) and 200-DMA (₹171), indicating a bearish structure with signs of base formation.

Volume: Below average (72.3L vs 83.1L), suggesting reduced participation and lack of conviction in recent moves.

📈 Momentum Indicators

RSI (55.7): Neutral zone — indicates mild recovery but no strong momentum.

MACD (-0.70): Negative and flattening — signals weakening bearish momentum, possibly setting up for a crossover.

Bollinger Bands: Price likely near the middle band, consistent with consolidation and low volatility.

🧭 Chart Patterns

Descending Channel: Price has been declining from ₹244 highs, forming lower highs and lower lows.

Base Formation Attempt: Stabilization near ₹130–₹150 zone suggests potential bottoming, but confirmation is needed.

🔍 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 145 Minor pullback zone

Support 2 130 52-week low, long-term support

Resistance 1 153 50-DMA, short-term ceiling

Resistance 2 171 200-DMA, trend reversal trigger

Major Resistance 190 Breakdown zone from prior support

🎯 Entry & Exit Zones

Optimal Entry: ₹145–₹149 (on dips with reversal confirmation)

Short-Term Target: ₹153–₹171

Exit Zone / Stop-Loss: ₹130 (below key support)

🔄 Short-Term Outlook

Momentum: Weak but stabilizing

Bias: Bearish below ₹153; neutral-to-bullish only above ₹171

Phase: Reversing — attempting to bottom out after prolonged decline

🧠 Key Takeaways

IEX is showing early signs of a reversal but remains technically weak.

RSI and MACD suggest consolidation, while price action near support zones hints at potential base-building.

A breakout above ₹153 with volume could confirm short-term strength, while a close above ₹171 would signal a trend reversal.

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