In recent trading sessions, IEX has shown a notable price increase from the 21-day exponential moving average (DEMA) on the daily chart, indicating a positive trend. The stock observed a run-away gap and a V-shaped recovery on the daily timeframe, signaling a bullish development. Furthermore, there has been a significant uptick in trading volumes for IEX, suggesting increasing market interest and potential for short to medium-term gains. The Moving Average Convergence Divergence (MACD) oscillator signals a continuation of the positive trend.
Similarly, M&M Fin experienced a significant breakout on the closing basis over multiple weeks, with a nearly 4 percent surge in its price. The stock has been showing strong momentum in recent trading weeks and appears ready to continue its upward trajectory. Additionally, M&M Fin broke a sloping trendline, adding to its bullish sentiment. The Relative Strength Index (RSI) indicator exhibited a positive crossover, and the MACD oscillator indicates a possible extension of the uptrend. This overall analysis suggests a promising potential for M&M Fin in the near future.
Given the technical analysis provided, the recommendations advise buying IEX around Rs 192-190 with a stop loss at Rs 178 and a target price range of Rs 215-220. For M&M Fin, the suggestion is to purchase around Rs 302-300, set a stop loss at Rs 282, and aim for a target price of Rs 345. These recommendations are based on a combination of price movements, chart patterns, volume analysis, and oscillator signals for both stocks, aiming to guide investors in their trading decisions.