ENGROHENGROH Analysis long term targets
Head/shoulder pattern was formed in daily time frame
but now bullish divergence formed hopefully it will go up
Need to break downtrend line and sustain above 205-214
Trade ideas
ENGROH Possibly Established A LowENGROH (184.50) has completed the 61.8% Fibonacci retracement of its 134.36 to 287.88 rally at 179.76, marking a decline of over 35% from its January 2025 high of 287.88. Based on my wave count, the correction appears to be complete, with a potential low established at 177.05.
A sustained move above 188.50 would confirm emerging strength, initially targeting 194.60. Such a move would reinforce the bullish reversal structure, setting the stage for a minimum upside towards 206.30, with the potential to extend to 226.
Traders should closely monitor price action above 188.50, particularly on expanding volume, as this would provide a strong buy signal for further upside.
Engrohafter posting a bottom engroh is moving upside NOW, Long entry is recommended from this point.
Different Patterns on Different Time FramesCup & Handle Pattern formation on Monthly TF.
H&S pattern on Daily TF.
S1 around 192 - 193
S2 around 183 - 185
Worst Case scanerio Support around 150.
Should not break 130 - 135.
Upside Targets can be around :
Immediate Resistance around 234 -235
Short to Medium Term : 250 - 270
ABCD Pattern Target around 300
ENGROH, 1DCurrently stock in down trend most probability bonce back from 160-170. could be good buying zoon.
