IEX is closing to break 9 month channel, most probably on upside.
IEX made 7 attempts on to break 198 levels, it cleared in 8th attempt but sharp pullback in Nifty threw it in channel again.
IEX has made 5 higher highs and that's interesting.
IEX's 50 DMA is 188.50 and offers good support.
With 184.50 SL (3%) it offers significant upside in coming days if market is stable.
Risk:Reward 1:5
IEX made 7 attempts on to break 198 levels, it cleared in 8th attempt but sharp pullback in Nifty threw it in channel again.
IEX has made 5 higher highs and that's interesting.
IEX's 50 DMA is 188.50 and offers good support.
With 184.50 SL (3%) it offers significant upside in coming days if market is stable.
Risk:Reward 1:5