₹831.3 to ₹4212: Inox Wind Energy's 405.23% Surge to All-Time High

04 Dec, 2023

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Out of the total electricity production in India, wind energy contributes ~4.4%.

Inox Wind Energy Limited is a subsidiary of Gujarat Fluorochemicals.

It has a market capitalisation of ₹ 4,500+ crores.

Inox Wind Energy Limited will merge with Inox Wind Limited, its parent company, through a share swap agreement.

It moved from its 52 week low of ₹831.3 to ₹4212, which is the all-time high, giving a whopping 405.23% return in just 11 months and 12 days.

As of Mon, 04 Dec 2023, IWEL is just ₹12 less than the All-Time High of ₹4212. Lets find out what opportunities lies ahead for IWEL.

The Golden Extension (161.8%) level of ₹6301 offers a promising Exit Point, given the likelihood of a downward momentum from these levels as investors might start booking their profits at these levels.

The Golden Ratio (61.8%) retracement level of ₹2122 offers a promising Entry Point, given the likelihood of a pullback from these levels as new investors might come in at these levels.