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Non Stop Rally in Indian Energy Exchange (NSE: IEX) Stock. What’s Ahead?

Indian Energy Exchange Ltd

NSE :IEX   BSE :540750  Sector : Miscellaneous

About Company: The Indian Energy Exchange is an Indian electronic system based power trading exchange regulated by the Central Electricity Regulatory Commission. IEX started its operations 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 power market, comprising State Electricity Boards, Power producers, Power Traders and Open Access Consumers. IEX is one of the two operational Power Exchanges in India. Ever since its incorporation, it has held an influential market share. IEX operates a day-ahead market based on closed auctions with double-sided bidding and uniform pricing; it has over 3,800 registered clients, over 300 private generators and more than 3,300 industrial electricity consumers

Daily Chart of IEX:

Technical Outlook of IEX:

IEX stock today on 11th Oct 2021 Monday trade closed up by Rs.85 Per share at 780.90 whopping returns of 12.21% in single trading session. We have already mentioned in yesterday’s post that IEX Stock is ready for another leg of rally and the same has happened in today’s trading session. Technically stock is trading in an overbought zone and now only risky traders should take fresh entry in the stock. Those holding the stock should place trailing stop loss below physiological levels at 750.

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