New Delhi : Shares of Indian Energy Exchange Limited saw strong buying during early hours on Wednesday. Meanwhile it increased by more than 5%. It is one of the top trending stocks today and has registered highest volumes in recent times. Technically, the stock has broken out of its 25-week consolidation on seven above average volumes. The volume has been found above the 30-day moving average and has crossed its 200DMA level.
Interestingly, the technical indicators are also showing positive price action in the stock. The 14-period RSI (65.05) is in the bullish zone and is showing strong strength. OBV is at its peak indicating strong buying activity in the stock. The MACD histogram is positive and shows increasing momentum. The overall technical setup is bullish and investors should look for fresh trading opportunities in the stock. The stock is facing medium term resistance at Rs 165. While the intermediate support is placed at Rs 145 level. Currently IEX share price is trading at Rs.152. Momentum traders should keep a close watch on this stock in the upcoming trading session.
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