This is a technical analysis report on
ENGINERSIN
Engineers India Limited (EIL), a leading engineering and consultancy firm in India.
Technical Analysis Summary:
EIL is currently trading at INR 77.05 (as of 18th April 2023, 2:26 p.m.).
The stock has recently breached its 50-day moving average from the bottom upwards, with the 0.618 Fibonacci retracement level acting as resistance.
Stochastic RSI indicates overbought conditions with KD values at 95.64 and 94.46, respectively.
MACD suggests a positive uptrend, while Williams %R is above the -14.56 level.
Based on our technical analysis, we recommend the following:
Buy Recommendation:
Target 1: INR 78.35
Target 2: INR 80.45
Stop Loss: INR 75.05
Please note that these recommendations are based on our technical analysis and should be considered along with other factors, such as market conditions and the company's fundamentals, before making any investment decisions.
Outlook:
The current technical indicators suggest a bullish trend in the short term for Engineers India Limited. However, investors should closely monitor the stock and adjust their positions accordingly, considering the overbought conditions indicated by the Stochastic RSI.
Disclaimers and Disclosures:
This report is for informational purposes only and should not be construed as a solicitation or offer to buy or sell any securities. Finogent Solutions and its analysts may have positions in the securities mentioned in this report, and any such positions are subject to change without notice. The information and opinions presented in this report have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The views and opinions expressed in this report are those of the analysts at Finogent Solutions and may differ from the views of other market participants. Please consult your financial advisor before making any investment decisions.
ENGINERSIN
Engineers India Limited (EIL), a leading engineering and consultancy firm in India. Technical Analysis Summary:
EIL is currently trading at INR 77.05 (as of 18th April 2023, 2:26 p.m.).
The stock has recently breached its 50-day moving average from the bottom upwards, with the 0.618 Fibonacci retracement level acting as resistance.
Stochastic RSI indicates overbought conditions with KD values at 95.64 and 94.46, respectively.
MACD suggests a positive uptrend, while Williams %R is above the -14.56 level.
Based on our technical analysis, we recommend the following:
Buy Recommendation:
Target 1: INR 78.35
Target 2: INR 80.45
Stop Loss: INR 75.05
Please note that these recommendations are based on our technical analysis and should be considered along with other factors, such as market conditions and the company's fundamentals, before making any investment decisions.
Outlook:
The current technical indicators suggest a bullish trend in the short term for Engineers India Limited. However, investors should closely monitor the stock and adjust their positions accordingly, considering the overbought conditions indicated by the Stochastic RSI.
Disclaimers and Disclosures:
This report is for informational purposes only and should not be construed as a solicitation or offer to buy or sell any securities. Finogent Solutions and its analysts may have positions in the securities mentioned in this report, and any such positions are subject to change without notice. The information and opinions presented in this report have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The views and opinions expressed in this report are those of the analysts at Finogent Solutions and may differ from the views of other market participants. Please consult your financial advisor before making any investment decisions.
Trade closed: target reached:
Target 2 crossed. Phenomenal performance.