Are IdeaForge Shares A Buy? Check SEBI RA Aditya Hujband’s Review After Bullish Breakout, Volume Surge

The company has shown a clear bullish breakout with strong volume, signaling potential short-term gains, according to SEBI-registered analyst Aditya Hujband.

Shares of IdeaForge Technology Ltd, a key player in the defence and aerospace industry, has shown signs of a bullish short-term trend, according to SEBI-registered analyst Aditya Hujband.

The stock has demonstrated a clear breakout, accompanied by a surge in volume, signaling strong buying interest, Hujband said.

At the time of writing, IdeaForge shares were trading at ₹456.50, up 18.19% for the day. The surge comes amid a broader rally in domestic defense stocks amid intensifying tensions between India and Pakistan.

Support has been identified around ₹400, a level that has acted as a consolidation base in recent trading sessions.

However, Hujband also highlights critical risks that investors should be aware of. 

Despite the bullish technical setup, the company has faced financial stress, reporting losses in the last three consecutive quarters. 

This raises concerns about its ability to maintain profitability in the near term. 

The stock's high volatility, indicated by expanding Bollinger Bands, suggests sharp price movements, making it a risky investment, particularly for conservative investors.

In addition, Hujband points to several potential red flags, including low promoter holding, which suggests limited long-term commitment from key stakeholders. 

Furthermore, IdeaForge’s reliance on government contracts and defence tenders could pose a risk, as delays or changes in tender allocations could adversely affect the company’s growth trajectory.

From a technical perspective, the primary resistance level for the stock is ₹500, with a major resistance zone at ₹650. 

However, Hujband cautions that valuation concerns and the correction phase following the post-listing premium could indicate overvaluation risks for potential investors. 

While the stock has reversed its previous downtrend, investors should carefully weigh the associated risks before taking positions in the stock, Hujband said. 

On Stocktwits, sentiment was ‘bullish’ amid ‘extremely high’ message volume.

IdeaForge stock has declined nearly 27% so far in 2025.

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