Price and trend forecast of IREDA for Tomorrow, Weekly, Monthly
Indian Renewable Energy Development Agency Limited
Symbol: NSE:IREDA
ISIN: N/A
217.71
As on 2024-10-17
IREDA's Today's Performance
Indian Renewable Energy Development Agency Limited started the day by opening at 221.99 today 2024-10-17. Its shares reached a high of 224.40 and dipped to a low of 217.02 in intraday. When the markets closed, IREDA’s stock price settled at ₹217.71 per share. Also check out its key support and resistance levels.
IREDA Buy/Sell Targets
Tomorrow, sell IREDA when its price reaches ₹ 217.71 with a stop-loss order at ₹ 220.46. You can set the target price as ₹ 214.96 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of IREDA for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for IREDA
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 222 |
| Tomorrow Down Target 2 | 227 |
| Tomorrow Down Target 3 | 230 |
Important Levels for IREDA
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 215 |
| Tomorrow Up Target 2 | 212 |
| Tomorrow Up Target 3 | 208 |
Based on where the stock opens tomorrow, if IREDA opens on a positive note, our first target will be ₹222. If Target 1 is achieved, we will aim for Target 2 which is ₹227.
But if IREDA falls below the average value of ₹219.71, you can enter a sell side position with target number 1 - ₹215 and second target - ₹212 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of IREDA
Looking at IREDA, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, IREDA has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for IREDA is moderate bearish.
Tomorrow's Volume based share price Forecast for IREDA
IREDA's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is 93%.
Reversal detection for IREDA
IREDA may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹222 in morning tomorrow
| Target 1 tomorrow | 223 |
| Target 2 tomorrow | 224 |
| Target 3 tomorrow | 227 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with IREDA's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if IREDA opens on a positive note, our first target will be ₹222.40. If Target 1 is achieved, we will aim for Target 2 which is ₹227.09.
But if IREDA falls below the average value of ₹219.71, you can enter a sell side position with target number 1 - ₹215.02 and second target - ₹212.33
IREDA's Weekly Targets
| 1st Up Target | 225.93 |
| 2nd Up Target | 234.16 |
| 1st Down Target | 213.25 |
| 2nd Down Target | 208.80 |
As the week for IREDA ended on bearish sentiments, we can expect further continuation of this sentiment. IREDA's initial target will be 225.93 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 213.25 in the upcoming week.
Weekly OHLC Values
| Open | 229.49 |
| High | 229.70 |
| Low | 217.02 |
| Close | 217.71 |
Week for IREDA started with an open price of 229.49, and the close was at 217.71. IREDA reached the highest of 229.70 and dipped lowest up to 217.02 last week. This indicates a bearish sentiment for the week.
IREDA full month swing targets
| Monthly Up Target 1 | 238.61 |
| Monthly Up Target 2 | 246.84 |
| Monthly Down Target 1 | 200.57 |
| Monthly Down Target 2 | 183.44 |
Targets of ₹238.61 can be expected to be reached in the coming month. Once IREDA achieved this target, we can aim for the next upside target of ₹246.84.
IREDA if fails to hold upside, down targets of ₹200.57 and ₹183.44 can be achieved by end of this month.
For complete three weeks if IREDA is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as IREDA
| Symbol | Name | Industry |
|---|---|---|
| HDFCBANK | HDFC Bank Limited | Banks - Regional |
| ICICIBANK | ICICI Bank Limited | Banks - Regional |
| SBIN | State Bank of India | Banks - Regional |
| LICI | Life Insurance Corporation Of India | Insurance - Life |
| BAJFINANCE | Bajaj Finance Limited | Credit Services |
Summary
IREDA is expected to reach the target of 222.40 in tomorrow's trading session.
After achieving the initial target in IREDA, we will aim for higher targets of 227.09 tomorrow.
However, if IREDA starts to trade below ₹219.71, then we will shift our focus to the sell side and aim for down targets of 215.02 and 212.33.