Spent hours on an Engineers India con-call, sharing analysis to the point in
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📊 Company Update on Engineers India Limited (EIL) #EIL #Q2FY24 #FinanceReport
Financial Performance: EIL's turnover for Q2 ending Sep 2023 was INR 777 cr, a slight dip from INR 808 cr in Q1 FY23-24. Half-year turnover stood at INR 1586 cr....
A strong uptrend looks to be resuming in the same direction with the price taking support on 13EMA levels. DMI is also bullish indicating potential upside left. Can be a good short term long trade
Entry - 154
Stop Loss - 145
Target - 175/192
The stock is very strong in Monthly, weekly, Daily, has been on a very strong uptrend.
On the daily time frame it has moved out of 1 month old consolidation zone.
So one can look to enter the stock at the demand levels marked for a quick move till the supply zone of 180.
A good 10% opportunity exists.
Trade at your own risk.
Happy trading!
AFTER CORONA BIG CONSOLIDATION SEEN IN THIS CHART.
they try to cross this high
SUPPORT SEEN AT 85/95
WE SEEN 104/123/138+
VIEW INVALID BELOW CB 68 LEVEL.
The stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
The stock has reached lower trend line and looks to take support and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby & 200 EMA .
Risk Reward Ratio - 1:1
SL is placed below multiple major support zones and target is place near upper trendline.
ENGINEERSIN looks like this stock is coming out of down trend.
Good Buying seen and the stock closing above previous trend/resistance levels.
Please do own analysis before going ahead.
85/100/110 seems to be coming in sight. Trade carefully .. based on market trend.
NSE:ENGINERSIN
Reason Being:
1. RSI taking multiple time support
2. 2 Hourly RSI Crosses above 60
3. Parallel Channel breakout
4. Double bottom formation
View Negated Below: 72.9 in hourly closing Basis
#Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any position....
