vanathi

Engineers India - Trendline broken!

Long
NSE:ENGINERSIN   ENGINEERS INDIA
192 views
7
It has been observed in one hour chart price action has taken support at 145 and broken the downward trend line indicating bullish movement. Engineers India is buy above 150 with stoploss 149. Targets are 155 and 159.
Note : I am a private trader. I am not giving free/paid calls. I am not taking trading classes. I am here to improve my technical knowledge. This is my trading analysis journal.
Trade active: @ 151.8 on 2/20/17
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Comments

GREAT..!!
Reply
right call.I am also tracking this scrip. EIL is looking very good on charts
Resistance @153 & 160 watch out for these levels to trade
Reply
vanathi avirrathi
@avirrathi, If it breaks the resistance at 160 I expect it to go higher. Thank you for sharing your view.
Reply
There will be consolidation in price due to huge spike , its good to enter after retracement near 151 and Immediate Target 154.00 , for Inter day Opportunity
Reply
vanathi shiv2798
@shiv2798, It will retrace, but I expect this script will achieve the targets I mentioned.
Reply
shiv2798 vanathi
@vanathi, Now you saw it , it did not make higher high, I think this time it will brake , and may reach up to 1st Target set or indicated by You
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vanathi shiv2798
@shiv2798, You said because of RSI hidden bearish divergence?
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shiv2798 vanathi
@vanathi, no absolutely not , I don't use any indicators I see through psychology of price action, always if 20/20 bullish candle form it indicate all are long and it's difficult to move price ahead , so there will be offloading of stock and price will retreat , then again it will move up
Reply
vanathi shiv2798
@shiv2798, Good logic, thank you :)
Reply
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