Inox Wind

INOXWIND closed at ₹64.80 on 2026-11-06, trading in a narrow range between ₹63.31 and ₹65.25 after an extreme downward weekly gap of +16.2% range expansion with a -1.4% return. The technical setup is defined by conflicting timeframes: the daily chart shows price above the 20-period EMA and Supertrend (bullish short-term positioning), while the weekly and monthly charts remain firmly below all major moving averages and the weekly Supertrend (bearish medium-to-long-term trend). ADX readings indicate established to strong trend strength across all horizons (Daily: 33.53, Weekly: 38.42, Monthly: 48.14). Price is positioned near the lower end of its 252-day range (+9.4%) but in the upper-middle of its 20-day range (+61.4%). A monthly 'Inside Bar' pattern is currently active, suggesting consolidation. Key resistance sits at ₹65.52 (pivot, +1.11%) and ₹66.53 (high, +2.67%), while immediate support is at ₹64.68 (low, -0.18%) and ₹63.67 (low, -1.75%). The stock carries high volatility (annualized 45.1%) and significant historical drawdown (-66.8%).

In the seven-day window leading to November 6, 2026, Inox Wind experienced a sharp price recovery following a recent low. On November 2, shares surged approximately 10% to reach ₹61.29, bouncing back from a 52-week low of ₹55.26 recorded on October 30, 2026. Despite this intraday rally, technical analysts at Bonanza and Choice Broking maintained a negative outlook, citing that the stock continued trading below major moving averages and recommending a 'sell-on-rise' strategy. Concurrently, broader market commentary positioned Inox Wind as a recommended buy among renewable energy peers, contrasting it with stocks advised for avoidance such as Jaiprakash Power Ventures and Reliance Power. These divergent signals highlight a tension between short-term technical weakness and longer-term fundamental interest in the sector.

Inox Wind Limited has completed its 17th Annual General Meeting (AGM) on September 25, 2026, securing shareholder approval for key governance and financial matters. The meeting ratified the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, and reappointed directors Mukesh Manglik and Madhurima Sayan Das with high support levels of 94.80% and 96.31%, respectively. Shareholders also approved increased borrowing limits under Section 180(1)(c) of the Companies Act and the creation of security interests on assets, which expands the company's capacity to raise debt capital. Additionally, the AGM ratified cost auditor remuneration for the year ending March 31, 2027, and approved material related party transactions.

On the operational front, the company clarified that a 100 MW turnkey order announced on September 3, 2026, was received from Terra Clean Limited, a wholly-owned subsidiary of Indian Oil Corporation Limited (IOCL). This distinction clarifies the counterparty structure of the contract. Looking ahead, the trading window for dealing in company securities will remain closed from October 1, 2026, until 48 hours after the declaration of unaudited financial results for the quarter and half-year ending September 30, 2026, ensuring compliance with insider trading regulations during the sensitive pre-result period.

Inox Wind faces significant headwinds characterized by a prolonged downtrend and elevated volatility. The stock has declined 56.8% over the past year and is down 47.3% year-to-date as of November 6, 2026, with a current drawdown of 66.8% from its peak. Technical indicators on the weekly timeframe are bearish, with the Supertrend signaling downside pressure and moving averages sloping negatively. Although the daily trend shows a brief bullish Supertrend signal following a recent 10% surge to ₹64.80, analysts maintain a negative outlook, citing trading below major moving averages and recommending a sell-on-rise strategy. Resistance is immediate at the pivot level of ₹65.52, just 1.11% above the current price, suggesting limited upside momentum in the near term.