Ideaforge Technol shares 26% crash in a month. What should traders do now?

Ideaforge Technol .Gee’s stock has seen a decline of 26.4% in the last one month, with the stock currently around Rs 431. Drone Technology Pay FIRM, which saw the interest of significant investors in the past year, has now entered the technically weak zone.

This has asked the mixed opinions of market experts how investors should contact the stock at the current level.

According to Anand Rathi Shares and stock brokers’ technical research analysts – senior manager Jigar Patel, the stock is approaching a complex support zone.

Strengthening the importance of 420-445 support zones, “Ideaforge has recently seen an intense improvement and is currently trading around 443, closely arranging the 61.8% of its previous rally with the Fibonacci retracement level. Significantly, the back breakout point of the stock is 420-445.”

Patel believes that this confluence indicates the possibility of base formation. It advises traders that “4040 and Rs 420 are advised to collect the stock, with a daily closure of Rs. 500 and stop-loss 395.”

However, a more precautionary view is kept by Kunal vs Par, the VP of technical research. And the algo of Choice broking, which highlights the constant weakness in the formation of the chart. “On the daily chart, the stock is trading down from its 100-day moving average, showing a constant bearish speed.”

He added that the stock has frequently faced strong resistance around 650 levels and is moving downwards inside the sloping channel, pointing to a continuous reduction pressure.

Perver also noted that the daily RSI is at 25.96, below the 30-mark, indicating a weak velocity. Based on the current setup, it expects further damage to the 395 -RS355 zone, with the resistance placed around 480.

From the point of view of the fundamentals, the head of the equity research of SMC Global Securities, Saurabh Jain also resonates with a bearish tone.

“Stock, which tested 650 levels in June, has since entered the corrective phase, which has seen a sharp decline at 440 levels – a correction of about 25% in the last three months.”

It pointed out that Ideaforge is “all key trades under a short -term and long -term moving average, showing a bearish bias.”

Jain Rs. Looks at 400 as an immediate support, but warns that “the overall trend remains bearish as long as the stock trades below the 490 resistance mark.”

It advises that “any technical rebounds should be viewed as long positions as the opportunities to open until a clear opposite sign is emerged.” If the stock is a crucial Rs. If it breaks down 400, Jain expects the reduction to 385 rupees.

While some technical indicators indicate that Ideaforge may come close to the near -term base, widespread velocity and chart signals reflect caution. Traders with high risk hunger can consider the accumulation stuck near the support zone, but the Rs SERV -chat investors can choose to wait for a strong confirmation of reversal.

Also read: Reliance Power shares 31% below 1 month. Should you buy or run clearly?

(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)