Warning-
IREDA (INDIAN RENEWABLE ENERGY) is currently trading at Rs.135.56, down 1.2% in the latest session. The stock is trading below its 200-day moving average (Rs.139), indicating a long-term bearish structure. It remains above the 50 DMA (Rs.122), showing medium-term strength. RSI at 60.0 is neutral, offering a directional signal. MACD histogram is positive, confirming upward momentum. ADX at 27.5 indicates a strong trending market. OUTLOOK: The weight of technical evidence is bullish. IREDA shows 6 bullish signals against 1 bearish. Near-term upside target is R1 at Rs.137, with support at S1 Rs.135.
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