Price Action Analysis:

The stock is trading between the INR 130-150 zone for the last 3 months. This week, it broke out above the resistance with huge volumes and closed above INR 150. This indicates a bullish trend going forward.

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‍Moving Average:

The stock stabilized above the 20 and 50 EMA for last 10 trading sessions. IEX witnessed a positive momentum with the price deviating ~3% from the 20 EMA.

‍Bollinger Bands:

The stock trades around the upper band with more than average volumes in the last week. A strong support is seen at INR 145, any dip around that level can be bought

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‍Mool’s Outlook:

We anticipate a target of INR 180 with an upside of 13% in the next 6 months.

Stop Loss should be maintained at INR 145

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Disclaimer:

Mool Capital Limited is a SEBI Registered Research Analyst having registration no. INH000012449. This report has been prepared by Mool Capital Pvt. Ltd. and is solely for information of the recipient only. The report must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. This document is not, and should not, be construed as an offer or solicitation of an offer, to buy or sell any securities or other financial instruments. This report should not be construed as an invitation or solicitation to do business with Mool Capital. Mool Capital and its affiliated company(ies), their directors and employees may; (a) from time to time, have a long or short position in, and buy or sell the securities of the company(ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company(ies) discussed herein or act as an advisor or lender/borrower to such company(ies) or may have any other potential conflict of interests with respect to any recommendation and other related information and opinions.