Critical Pivot Zone in Play for IREDA Rally!

IREDA The Catalyst: IREDA remains front and center for clean-energy portfolios, backed by a solid structural loan book growth, recent international credit ratings for its subsidiary, and upcoming AGM dividend approvals. Actionable Strategy: The Setup & Accumulation Zone (111.25 – 112.50): The chart highlights a clear horizontal consolidation band between 111.25 and 112.50. Following a sharp downward correction mid-month, the price stabilized and is currently testing the upper boundary of this congestion range. This zone represents a critical battleground where short-term supply and demand are tightly balanced. Bullish Breakout Scenario (Above 112.50): If buying momentum picks up and candles close firmly sustainably above 112.50, it will trigger an immediate breakout from the current accumulation base. This invalidates recent overhead resistance and paves a smooth path toward the 114.70 target. Bearish Breakdown Scenario (Below 111.25): Conversely, failure to hold the lower floor at 111.25 signals weakness. A sustained move below this threshold opens up a retest of lower support handles down toward 108.80, tracking prior correction impulses visible on the timeframe. so in short, BULLISH TRIGGER: • If stock sustains ABOVE 112.50 • 🎯 Upside Target : ₹114.70 BEARISH TRIGGER: • If stock sustains BELOW 111.25 • 🎯 Downside Target : ₹108.80