The analysis is done on Daily as well as on Monthly time frame.
Refer the Daily chart of Engineer India for short term picture & opportunity for entry
It is forming a Cup & Handle pattern with breakout awaited.
As we can see there was a prior buying force and now the stock was in pullback for few weeks. It seems to be coming out of that pullback period.
With the help of bigger picture, one can plan their investment as well and since we know the bigger picture, we can stay in the trade with conviction.
Pls note that The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
Refer the Daily chart of Engineer India for short term picture & opportunity for entry
It is forming a Cup & Handle pattern with breakout awaited.
As we can see there was a prior buying force and now the stock was in pullback for few weeks. It seems to be coming out of that pullback period.
With the help of bigger picture, one can plan their investment as well and since we know the bigger picture, we can stay in the trade with conviction.
Pls note that The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
