<\/p>
Indian Renewable Energy Development Agency (IREDA)\u00a0 investors hoping for a quick earnings-led revival may need to temper expectations. The stock, which has remained an underperformer for an extended period, is now seen entering a prolonged consolidation phase, with MOFSL’s technical analyst Ruchit Jain saying the sharp price damage may be over but meaningful upside could still take time to emerge.<\/p>
For traders such as those stuck at Rs 139, the message is clear: the downside may be limited from current levels, but patience will likely be tested as the IREDA stock searches for direction.<\/p>
IREDA had generated strong optimism after its IPO, with the stock witnessing a substantial post-listing rise. That optimism, however, has faded over the past two years as the counter slipped into a sustained downtrend and failed to regain momentum even as broader pockets of the market saw selective recoveries.<\/p>
Jain underscored the scale of the correction, noting that \u201cexactly two years ago, in July 2024, the stock made a high of around Rs 300 to Rs 310.\u201d From those levels, he said, \u201cwe witnessed a correction of Rs 210,\u201d marking a deep price-wise reset in investor expectations.<\/p>
The current phase, according to the analyst, is less about another steep fall and more about time correction. \u201cNow what we are seeing [is] that the stock is going through a time-wise corrective phase,\u201d he said, suggesting that IREDA may continue to move in a narrow band rather than stage an immediate breakout.<\/p>
Jain’s near-term view remains cautious but not outright bearish. \u201cPrice-wise downside seems to be limited, but the stock can spend some time or consolidate within a range over next few weeks or even few months,\u201d he said.<\/p>
He pointed to the stock\u2019s earlier rebound from Rs 110 to Rs 140 in April as evidence that intermittent pullbacks are possible even within a weak broader structure. His advice to traders is tactical rather than aggressive: wait for such rallies and \u201creview at that time whether you should exit or not.\u201d<\/p> <\/div>
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.<\/i><\/p>
IREDA share price,IREDA share, IREDA shares, IREDA news#IREDA #shares #stay #sideways #downside #capped #Ruchit #Jain1784804514<\/p> ","protected":false},"excerpt":{"rendered":"
Indian Renewable Energy Development Agency (IREDA)\u00a0 investors hoping for a quick earnings-led revival may need to temper expectations. The stock, which has remained an underperformer for an extended period, is now seen entering a prolonged consolidation phase, with MOFSL’s technical analyst Ruchit Jain saying the sharp price damage may be over but meaningful upside could […]<\/p>\n","protected":false},"author":1,"featured_media":12277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[32822,1726,565,48180,1126,1127,8655,2073,48182,1012,48181,2282],"class_list":["post-12276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-content-marketing","tag-capped","tag-downside","tag-ireda","tag-ireda-news","tag-ireda-share","tag-ireda-share-price","tag-ireda-shares","tag-jain","tag-ruchit","tag-shares","tag-sideways","tag-stay"],"acf":[],"_links":{"self":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/12276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12276"}],"version-history":[{"count":0,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/posts\/12276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=\/wp\/v2\/media\/12277"}],"wp:attachment":[{"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12276"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/longzhuplatform.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}