IREDA - Technical Analysis with Chart Patterns & Indicators

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

Technical Rating: 4.1

Here’s a detailed technical analysis of IREDA (Indian Renewable Energy Development Agency Ltd)

📊 Trend Overview

Phase: Reversing with bullish momentum

Price Action: Trading above the 50-DMA (₹151) but below the 200-DMA (₹167), indicating a short-term recovery within a broader corrective phase.

Volume: Strong (1.98 Cr vs 1.15 Cr average) — suggests renewed interest and accumulation at current levels.

📈 Momentum Indicators

RSI (66.8): Bullish zone — approaching overbought territory, indicating strong momentum but caution for short-term traders.

MACD (1.04): Positive and diverging — confirms bullish momentum and potential continuation.

Bollinger Bands: Price likely near the upper band, suggesting strength but also potential for short-term resistance or pause.

🧭 Chart Patterns

Rounded Base Formation: Price recovery from ₹137 indicates a potential reversal setup.

Trendline Support: Rising trendline from recent lows supports the bullish structure.

Resistance Retest: Price is approaching the 200-DMA zone, which could act as a breakout trigger.

🔍 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 151 50-DMA, short-term base

Support 2 145 Previous swing low

Support 3 137 52-week low

Resistance 1 167 200-DMA, trend reversal trigger

Resistance 2 180 Minor resistance zone

Major Resistance 240 52-week high

🎯 Entry & Exit Zones

Optimal Entry: ₹151–₹156 (on dips with volume confirmation)

Short-Term Target: ₹167–₹180

Exit Zone / Stop-Loss: ₹145 (below swing support)

🔄 Short-Term Outlook

Momentum: Strong and accelerating

Bias: Bullish above ₹151; cautious below ₹145

Phase: Reversing — with breakout potential

🧠 Key Takeaways

IREDA is showing strong signs of recovery, supported by bullish indicators and volume surge.

RSI and MACD confirm momentum, while price action suggests a potential breakout above the 200-DMA.

A decisive close above ₹167 with volume could unlock upside toward ₹180–₹240.

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