IXIGO: Strong Institutional Accumulation Near Listing Price – Bu

2 dic

Stock: IXIGO

Analysis:
IXIGO's stock has recently tested its listing price and bounced back, showing signs of renewed buying interest. The bounce is supported by high volume activity, indicating a potential reversal. Institutional investors appear to be gradually increasing their stake, even as retailers exit the stock:

FII/FPI Holdings: Increased from 58.18% to 59.83% in the Sep 2024 quarter.
MF Schemes: Increased from 5 to 8 in the same period.
Overall Institutional Holdings: Rose from 68.12% to 68.33%, reflecting sustained confidence.
The company’s strong financials further bolster the bullish outlook, making it an attractive candidate for a potential recovery.

Technical Setup:

Bounce Zone: Near listing price with strong support.
Volume: High activity during bounce indicates accumulation.
Institutional Confidence: Gradual stake increase supports bullish sentiment.
Trade Plan:

Entry: CMP ₹144 or on confirmation of a sustained move above recent resistance.
Target: Short-term resistance levels at ₹155 and ₹165.
Stop Loss: Below ₹138 to manage risk.
Note: Institutional accumulation, combined with a recovery from listing price, positions IXIGO as a promising reversal trade for both short-term and long-term investors.