$NSE:ELECTCAST READY TO CAST NEW HIGH

Aug 22

ELECTCAST is getting casted to cast new high's. As you all can see and observe the charts, The charts have formed double bottom along with ascending triangle pattern.

While writing this price has already broken out through ascending triangle and checking for volumes they have been good since last three months. Since this stock has already given 2x from march to till date it is risky buy here for me.

But still seeing the stocks technical and fundamentals this stock is so good to be true. We could see institutional buying and the chart is also showing bullishness with strong technical volume data.

Note:- Set Stop loss according to your apatite.

As indicated the new target for this stock with CMP:- 210 would be

1. Short term Targets

• 225
  
• 230
  

2. Mid Term Targets

• 240
  
• 255
  

3. Long Term Target

• 269
  
• 280
  
• 299
  

If all goes well soon Electro steel cast will cast new highs.

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Disclaimer
The above analysis posted is only for my reference. And it is not investment advice. These post are for educational purpose only. Please DYOR before investing you hard earned money. I am not responsible either for you profit or losses you make out of my analysis.