David Nugent scored the only goal on 67 minutes when he latched onto a pass from Danny Drinkwater and unleashed a blistering shot from a narrow angle.
But Redknapp was not too despondent, believing his side had created plenty of chances at the King Power Stadium.
"I thought we played well, I didn't think we deserved to lose today," he told Sky Sports .
"I thought again our general play was excellent. I thought we created good chances so I thought we were very unfortunate to come off on the wrong end of the result.
"It was a poor goal (to concede), poor defending. Your first basics as a defender, you don't let people run behind you, you don't let people play balls behind you, so it wasn't a good goal. And we had some good opportunities really that we didn't take. "
Redknapp's side currently sit in fourth in the table with 73 points from 43 games and the QPR boss believes they still need a result to make sure of the play-offs, depending on how other results go.
He added: "Momentum (in the play-offs), people talk about that. (Crystal) Palace last year went into it with no momentum, they went in on the back of a disastrous run and ended up making it.
"It's hard to tell. It's on the day, it's two games home and away and then the winners get to Wembley, so it's all to play for.
"We just need to make sure that we get everybody right now, get the squad right. But I couldn't fault the effort today, I thought we played ever so well, I really did.
"I thought at times we made some good opportunities and I thought we were unlucky when Yun (Suk-young) went through and got fouled by the keeper as well, that was a difficult decision for the referee, whether he got it right I'm not sure."