ideaForge Technology shares: Drone stock gains 53% in a year, but should you buy now? Check targets, support, stop loss
Drone manufacturer ideaForge Technology has delivered a sharp turnaround in its quarterly performance, returning to profitability in the September quarter as revenue more than doubled year-on-year.
However, the stock's recovery has not been entirely smooth, with shares witnessing intermittent selling pressure despite gaining over 50% in the past year. With the company showing signs of financial improvement and technical indicators offering mixed signals, investors are now assessing whether the stock has further room to climb or whether caution is warranted at current levels.
ideaForge shares have declined 6% over the past month, 9% in three months and 8% in six months. Over the past year, the stock has gained 53%.
The shares touched a 52-week high of ₹997 in June 2026 and a 52-week low of ₹367.95 in March 2026, highlighting the volatility witnessed during the period.
ideaForge Technology reported a net profit of ₹6.5 crore for the September quarter, compared with a net loss of ₹19.6 crore in the corresponding quarter last year. Revenue from operations increased 124% year-on-year to ₹91 crore in Q2 FY27, from ₹40.8 crore a year earlier.
The company's earnings before interest, tax, depreciation and amortisation (EBITDA) stood at ₹23 crore, compared with a loss at the operating level in the year-ago quarter. The return to profitability, alongside strong revenue growth, marked a significant improvement in its quarterly performance.
Despite the improvement in quarterly earnings, investors need to assess whether the stock's technical structure supports further gains. Analysts have identified key resistance levels that could determine its next move, while their recommendations range from avoiding fresh purchases to accumulating the stock for a potential move towards higher targets.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi Share and Stock Brokers, has advised investors to avoid fresh buying at current levels. He identified support at ₹675 and resistance at ₹728, where the 200-day exponential moving average (DEMA) and monthly resistance coincide.
“The technical structure remains cautious as the stock has been unable to sustain its RSI above the 60 mark, indicating a lack of strong bullish momentum,” Patel said.
The stock's RSI was around 51, indicating neutral momentum. Patel believes the upside could remain restricted unless shares decisively cross the 200 DEMA and sustain above ₹728. Until then, he recommended a wait-and-watch approach.
Deepesh Sarawagi, Technical Research Analyst at Choice Broking, offered a more constructive assessment, identifying early signs of a structural bottoming formation. He pointed to positive RSI divergence as the stock formed lower lows near the ₹620–630 support zone while the RSI made higher lows, suggesting fading selling pressure.
“ A decisive daily close above the ₹730– ₹735 barrier will confirm a bullish reversal, potentially triggering an upside move toward the ₹780– ₹800 resistance zone,” Sarawagi said.
He noted that the stock had reclaimed its 200-day and 20-day EMAs but was consolidating below the 50-day and 100-day EMAs around ₹717–730. Immediate support was placed at ₹660–630, followed by major structural support near ₹630.
Meanwhile, Bharat K Gala, Head of Technical at Ventura, has recommended a Buy on ideaForge, with a target price of ₹900 against the last close of ₹714.15. He placed support levels at ₹692–676, ₹665 and ₹653–635, with a stop loss of ₹617.
“RSI trading above 50, MACD shows positive momentum & PVT indicates the positive uptrend – signs of buying,” Gala said.
According to Ventura, the stock had broken out of a descending channel on the daily chart, supported by volumes and a bullish candle that reached ₹733.45 in November 2026. The brokerage also highlighted the formation of higher bottoms and a move above the 200-day simple moving average as signs of improving momentum.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.
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HomeMarketsStock MarketsideaForge Technology shares: Drone stock gains 53% in a year, but should you buy now? Check targets, support, stop loss
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