Stock has shown reversal from 9 day ema several times and has shown good move,
The same move can be seen now as well.
Stock taken support at 460 level multiple times .
From here it can show good upmove and head towards 550-600 levels.
Stock has also broken from falling trendline in short term.
It has high beta and good volatility
Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Elgi equipment is close to its immediate resistance. Wait for the price to go above the breakout zone. Regression is possible. Keep on radar. # elgi equipments # breakout soon
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
The stock has given a breakout once again after a small correction. It is ready for next phase of movement. Short term and medium term targets have been given in charts. Keep liberal stop loss of 160 initially and once the stock goes in our direction then trail the stop loss to our buying price.
