Indian Energy Exchange (IEX)

• 13 June, 2024 Ruchit Thakur

Indian Energy Exchange (IEX)

Indian Energy Exchange (IEX) appears to be a solid long-term investment, since the stock has broken off and is rising.

Please see the daily chart of Indian Energy Exchange (IEX). As shown in the chart, IEX is a great purchase opportunity in the 170-172 range, and it has performed brilliantly thus far, with tremendous upside potential.

Please review the Indian Energy Exchange (IEX) chart. The stock is trading above horizontal resistance and continues to rise after breaking out of the 170-172 range. IEX is currently seeing high demand in the 170-172 range, as illustrated in the graph. The predicted rise is 230-250, as indicated in the chart below. 

• IEX is an excellent long-term investment opportunity because it has demonstrated a reasonable breakout around the 170 to 172 levels and is currently on the rise.
• IEX appears to be in an excellent position on the chart, with potential for further climbs to the 230 and 250 levels.
• As of today, 170-172 represents the best opportunity to acquire this company because the risk-to-reward ratio was ideal for a cash transaction.

Please refer to the IEX daily chart for reference. The daily chart shows horizontal resistance and breakout, as well as demand in the 170-172 region, and the stock is gaining after accounting for abundant demand in the previously mentioned 170 range.

Please note the horizontal resistance and its breach, which resulted in the stock establishing a new all-time high today, indicating a strong opportunity to go long at the current market price. So far, the stock has tracked the chart's upward trend, reaching 230 and 250, respectively.

Investors may look for a long-term purchase opportunity in the 170-172 range because the stock is in great demand, which might lead to a comeback to the 230 and 250 levels, indicating a favorable risk-reward ratio. Use everydip to buy this stock as it has huge potential to go upside and every dip is a buying opportunity as an investment purpose.

Investors could buy the stock with cash for a long time and set a stop loss at 150 to accomplish price targets of 230 to 250.

The IEX daily chart shows both support and resistance. The spot chart illustrates each level.

Company Profile: The Central Electricity Regulatory Commission (CERC) regulates the Indian Energy Exchange (IEX), an electronic system-based power trading exchange in India. IEX launched its activities on June 27, 2008. Indian Energy Exchange pioneered the development of power trading in India and provides an electronic platform to the various participants in the power market, which include State Electricity Boards, Power Producers (Gencos), Power Traders, and Open Access Consumers (both Industrial and Commercial).

IEX is one of India's two active power exchanges. Since its inception, it has held a significant market share. IEX runs a day-ahead market using controlled auctions with double-sided bidding and uniform pricing; it has over 3,800 registered clients, 300 private generators, and over 3,300 industrial power consumers.

 

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