Inox Wind has recently caught the attention of investors, especially with its impressive ascent highlighted by domestic brokerage firm Anand Rathi. Over the past year, this multibagger stock has recorded an 18% increase in value, showcasing its potential. After experiencing a 52-week low of ₹124.35 on June 5, it surged to a remarkable 52-week high of ₹262.10 on September 23 of the previous year.
Recent Performance of Inox Wind
This month, Inox Wind has shown promising growth, rising by 4% following an 8% spike in March. After a prolonged period of consolidation, the stock has successfully broken out above the ₹177 level, signaling strength and potential for further gains.
- Key Technical Indicators:
- A solid double bottom formation around the ₹140 mark provides a strong support base.
- The daily Relative Strength Index (RSI) indicates a significant shift in the price action.
Investment Strategy for Inox Wind
Given the current market conditions, traders should consider entering a position in Inox Wind. The recommended buying range is between ₹179 and ₹175, with a strategic stop loss set at ₹166. Investors can aim for an upside target of ₹199.
In summary, Inox Wind stands out as a compelling investment opportunity, driven by its recent performance and technical indicators. With the right strategy, traders can potentially capitalize on its upward momentum.
