INOXGREEN Analysis Buy mode ON

10 avr.

Incorporated in 2012, Inox Green Energy Services Limited is one of the major wind power operation and maintenance ("O&M") service providers within India. The company is a subsidiary of Inox Wind Limited ("IWL") and part of the Inox GFL group of companies.
INOXGREEN has broken out to the upside. I am expecting it to go higher.
All important levels are marked on the chart.
Reasons:

1. RSI > 60, crossing 60 to the upside, entering the bullish zone. (Bullish)
   
2. Price > EMAs show the market has good bullish strength. (Bullish)
   
3. VWAP ~ Price shows good volume balanced price, ready to move to the upside. (Bullish)
   
4. Stock has a broken symmetrical triangle to the upside, which is a neutral pattern. Now, as it has broken to the upside, there is a high probability of moving it to the upside.
   

Verdict: Bullish

Plan of action:
Buy: 146.50
Stoploss: 134
Target: 187.50