Navratri stock pick: Buy IREDA shares for up to 25% upside, says Choice Broking
If IREDA sustains above Rs 160 and decisively crosses the Rs 166 resistance, analysts expect the stock to gather momentum towards the Rs 186–Rs 200 zone in the near term, up to 25 per cent upside from current levels.
- Sep 20, 2025,
- Updated Sep 20, 2025 1:43 PM IST
Indian Renewable Energy Development Agency (IREDA) has emerged as the top Navratri stock pick for 2025 by brokerage Choice Institutional Equities, with analysts pointing to a strong technical setup and signs of renewed bullish momentum.
The brokerage highlighted that IREDA has broken out of a prolonged consolidation phase, currently trading around Rs 160.10. “The stock has recently given a breakout above a downward sloping trendline on the weekly chart, indicating a shift in sentiment from neutral to bullish,” Choice said.
Choice said the analysts observed that the stock is now consolidating above the crucial Rs 150 support zone, a level that suggests selling pressure has eased and fresh accumulation is taking place. On the upside, the immediate hurdle lies near Rs 166, which coincides with the 200-day exponential moving average (EMA). A clear breakout above this level could open the door to higher targets.
“The stock is trading above its 20-day, 50-day, and 100-day moving averages, reflecting underlying strength in the short to medium term,” the brokerage said. The Relative Strength Index (RSI) on the weekly chart has also rebounded from oversold territory and is currently at 41.90, hinting at further upside potential.
If IREDA sustains above Rs 160 and decisively crosses the Rs 166 resistance, analysts expect the stock to gather momentum towards the Rs 186–Rs 200 zone in the near term, up to 25 per cent upside from current levels. “A breakout beyond these levels would reinforce the uptrend and open the possibility of extended gains in the medium term,” the brokerage added.
Based on this technical structure, Choice Institutional Equities recommended initiating a ‘Buy’ at Rs 160.10 and accumulating further on dips towards Rs 156, with downside support at Rs 145. “A breach of this level could temporarily challenge the positive structure, warranting a cautious approach,” it cautioned.
The brokerage’s Navratri strategy thus places IREDA in focus for investors looking at renewable energy-linked plays, combining sectoral optimism with favorable technical signals.
Indian Renewable Energy Development Agency (IREDA) has emerged as the top Navratri stock pick for 2025 by brokerage Choice Institutional Equities, with analysts pointing to a strong technical setup and signs of renewed bullish momentum.
The brokerage highlighted that IREDA has broken out of a prolonged consolidation phase, currently trading around Rs 160.10. “The stock has recently given a breakout above a downward sloping trendline on the weekly chart, indicating a shift in sentiment from neutral to bullish,” Choice said.
Choice said the analysts observed that the stock is now consolidating above the crucial Rs 150 support zone, a level that suggests selling pressure has eased and fresh accumulation is taking place. On the upside, the immediate hurdle lies near Rs 166, which coincides with the 200-day exponential moving average (EMA). A clear breakout above this level could open the door to higher targets.
“The stock is trading above its 20-day, 50-day, and 100-day moving averages, reflecting underlying strength in the short to medium term,” the brokerage said. The Relative Strength Index (RSI) on the weekly chart has also rebounded from oversold territory and is currently at 41.90, hinting at further upside potential.
If IREDA sustains above Rs 160 and decisively crosses the Rs 166 resistance, analysts expect the stock to gather momentum towards the Rs 186–Rs 200 zone in the near term, up to 25 per cent upside from current levels. “A breakout beyond these levels would reinforce the uptrend and open the possibility of extended gains in the medium term,” the brokerage added.
Based on this technical structure, Choice Institutional Equities recommended initiating a ‘Buy’ at Rs 160.10 and accumulating further on dips towards Rs 156, with downside support at Rs 145. “A breach of this level could temporarily challenge the positive structure, warranting a cautious approach,” it cautioned.
The brokerage’s Navratri strategy thus places IREDA in focus for investors looking at renewable energy-linked plays, combining sectoral optimism with favorable technical signals.