IREDA Stock Plummets with 5th Consecutive Day of Losses, 'Sell' Call Recommended
Indian Renewable Energy Development Agency (IREDA) has been in the news recently due to its stock performance. The company, which operates in the finance/NBFC industry and is classified as a largecap, has been given a 'Sell' call by MarketsMOJO.
Today, the stock opened with a loss of -10.96%, underperforming the sector by -1.82%. This marks the fifth consecutive day of losses for the stock, with a total decline of -9.27% in this period. The stock also opened with a gap down of -10.96% and touched an intraday low of Rs 226.6.
The stock has been highly volatile today, with an intraday volatility of 18.34%. This is calculated from the weighted average price. While the stock's moving averages are higher than the 50-day, 100-day, and 200-day moving averages, it is lower than the 5-day and 20-day moving averages.
In comparison to the Sensex, IREDA's performance in the last 1 day and 1 month has been -6.23% and 4.44%, respectively. This is lower than the Sensex's performance of -2.00% and -0.79% in the same time periods.
While there has been no mention of any external factors or expert opinions, it is clear from the stock's performance that investors may want to consider a 'Sell' call for Indian Renewable Energy Development Agency.
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