INOX WIND Long Term Trading Idea  


Introduction

Inox Wind Limited is a part of the Inox Group. The company is engaged in the business of manufacturing Wind Turbine Generators (WTGs) and is a wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. [1] Inox Wind Ltd is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions.

Observation

Stock trading above the ema from May 2023 with bullish crossover on weekly chart with RSI breakout Yesterday stock 11% up with high trade volume due to its positive corporate action. however, I planned to post this blog on the 4th of July due to some work I did not post. If stock sustain above 156 level on 4hr or day chart with a good volume of above 2O volume SMA we can consider breakout the level of 172.it can slightly consolidate in the channel.

let's touch fundamental
company promoter reduced its debt with the infusions cash of 900cr rupees. 1.94% debt/eqty ration which is very high that mean company have lot of debt but from May 2023 you can see on chart they have reducing it and stock picking up its momentum

Technical Analysis & indicators


Day chat

Bullish Flag

RSI


News of the day

1. Steel Authority of India Limited (SAIL) rose as much as 3 percent on today 5th of July report of steel union proposing a mega public sector undertaking by merging the company with three others. In a report by Economic Times, the Steel Executives Federation of India (SEFI) has reportedly urged the steel ministry to merge state-run Rashtriya Ispat Nigam Limited (RINL), Ferro Scrap Nigam Limited (FSNL) and Nagarnar steel plant with SAIL.

2. Defense minister Rajnath Singh announced that the country's defense production recorded the highest ever growth in 2023-24.He also stated that the government is committed to creating a more conducive regime for developing India as a leading global defense manufacturing hub. Announcement shares of defense companies like Bharat Dynamics, Bharat Electronics, Hindustan Aeronautics, Cochin Shipyard, and Data Patterns climbed higher in trade. These all stock you can study and see the chart you will surprise what will happen in the future.

3. Larsen & Toubro Infrastructure conglomerate is eyeing growth in green energy and plans to technology for sustainable progress in the coming years, S N Subrahmanyan said at the company's 79th annual general meeting on July 4.

    Educational Content

      This stock analysis is designed for educational purposes and should not be taken as professional financial advice. Please carry out your own research or consult with a financial advisor before investing.

    Fri Jul 5, 2024

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