Inox Wind shares tank 44% in nine months; time for bottom fishing?
Inox Wind shares have fallen 27.69% in a year, pushing the stock in the oversold zone on technical charts.
- Jan 23, 2026,
- Updated Jan 23, 2026 4:25 PM IST
Inox Wind shares are in a profit-booking mode since June last year. The green energy stock has fallen 44% from June 2025 level of Rs 192. In fact, the ongoing correction in the multibagger stock pulled the stock to a 52-week low of Rs 103.80 on January 21, 2026.
The multibagger stock has fallen 27.69% in a year, pushing the stock in the oversold zone on technical charts. The RSI of the stock stands at 28.8.
In the current session, the stock was trading on a flat note at Rs 106.90. Market cap of Inox Wind stood at Rs 18,414 crore. Total 1.31 lakh shares of the firm changed hands amounting to a turnover of Rs 1.39 crore. Later, the stock ended 3.13% lower at Rs 103.55.
Inox Wind stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
FULL COVERAGE: Union Budget 2026
Inox Wind Price Targets Jigar S Patel from Anand Rathi said, "Support will be at Rs 103 and resistance at Rs 115. A decisive move above the Rs 115 level may trigger a further upside of Rs 120. The expected trading range will be between Rs 103 and Rs 120 for the short-term."
Om Mehra, Technical Research Analyst, SAMCO Securities said, "The stock may see a tentative stabilisation near the Rs 100–Rs 105 zone, which is emerging as a near-term base after the extended decline. The daily RSI is hovering in the oversold zone and the MACD firmly in negative territory. The volumes have remained largely muted, pointing to limited participation from buyers. Bottom fishing should be avoided unless the stock manages a sustained close above Rs 120, which would signal improving strength and trend confirmation."
Aakash Shah, Research Analyst, Choice Broking said, "Inox Wind continues to trade in a well-defined bearish trend, with price action reflecting sustained selling pressure after a prolonged distribution phase. The stock has been making lower highs and lower lows, confirming continuation of the primary downtrend rather than any meaningful reversal attempt at this stage.
From a trend-validation standpoint, Inox Wind would need to reclaim and hold above the Rs 125–130 zone, followed by acceptance above the falling 50 EMA, to signal any potential trend stabilisation. Until then, the broader structure remains negative. Overall, as long as the stock trades below Rs 125–130, the bias stays bearish, with rallies likely to face selling pressure."
Inox Wind Limited (IWL) is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ 12 BN INOXGFL Group which has a legacy of over nine decades and is primarily focused on two business verticals - chemicals and renewable energy.
Inox Wind shares are in a profit-booking mode since June last year. The green energy stock has fallen 44% from June 2025 level of Rs 192. In fact, the ongoing correction in the multibagger stock pulled the stock to a 52-week low of Rs 103.80 on January 21, 2026.
The multibagger stock has fallen 27.69% in a year, pushing the stock in the oversold zone on technical charts. The RSI of the stock stands at 28.8.
In the current session, the stock was trading on a flat note at Rs 106.90. Market cap of Inox Wind stood at Rs 18,414 crore. Total 1.31 lakh shares of the firm changed hands amounting to a turnover of Rs 1.39 crore. Later, the stock ended 3.13% lower at Rs 103.55.
Inox Wind stock is trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
FULL COVERAGE: Union Budget 2026
Inox Wind Price Targets Jigar S Patel from Anand Rathi said, "Support will be at Rs 103 and resistance at Rs 115. A decisive move above the Rs 115 level may trigger a further upside of Rs 120. The expected trading range will be between Rs 103 and Rs 120 for the short-term."
Om Mehra, Technical Research Analyst, SAMCO Securities said, "The stock may see a tentative stabilisation near the Rs 100–Rs 105 zone, which is emerging as a near-term base after the extended decline. The daily RSI is hovering in the oversold zone and the MACD firmly in negative territory. The volumes have remained largely muted, pointing to limited participation from buyers. Bottom fishing should be avoided unless the stock manages a sustained close above Rs 120, which would signal improving strength and trend confirmation."
Aakash Shah, Research Analyst, Choice Broking said, "Inox Wind continues to trade in a well-defined bearish trend, with price action reflecting sustained selling pressure after a prolonged distribution phase. The stock has been making lower highs and lower lows, confirming continuation of the primary downtrend rather than any meaningful reversal attempt at this stage.
From a trend-validation standpoint, Inox Wind would need to reclaim and hold above the Rs 125–130 zone, followed by acceptance above the falling 50 EMA, to signal any potential trend stabilisation. Until then, the broader structure remains negative. Overall, as long as the stock trades below Rs 125–130, the bias stays bearish, with rallies likely to face selling pressure."
Inox Wind Limited (IWL) is India’s leading wind energy solutions provider servicing IPPs, Utilities, PSUs & Corporate investors. IWL is a part of the US$ 12 BN INOXGFL Group which has a legacy of over nine decades and is primarily focused on two business verticals - chemicals and renewable energy.