Shaily Engineering - Can it be nice pick for 1600+

14:05 Hrs 20th Aug 2018

Last price@1280

What a fall from 1370's to 1250 - Right in the desired zone. Are we ready for 1600+ ---- Scenario 2 was not considered.


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11:55 Hrs / 9th Aug 2018

Last Price@1369

Shaily Engineering is again a nice stock which moved from 30 - 50’s price range in 2009-2010 to 1520’s high as on April-May 2018 & has moved from bottom left to top right of the chart screen convincing that its long term trend is intact which is to the upside.

2018 wasn’t exciting for the stock as it has been moving into sideways consolidation having positive bias with the loophole level as 1100.

We call 1100 as dangerous level for the stock & till the time stock is holding above double bottom 1100 – Bias shall remain positive.

After all 1100 is an auspicious number used by most of us.

Long Term Scenario

No Trading Zone - 1300 to 1270 means we shall wait at sidelines to see market reaction.

Any opportunity to join bull camp shall be between 1150 -1270 with strict stop loss below 1100 for upside objective of 1600+

Trading Strategy

Scenario 1

Holding price above 1100 & joining bull camp between 1150 -1270 –our upside objective shall be 1600-1650 zone minimum.

Or

Scenario 2

Crossing above 1520 Highs incase –price fails to drop in the interested zone of 1150-1270 & starts moving above 1520 highs

Important Levels

Key Support Zone - 1150 - 1270

Critical Level – 1100

Key Resistance Level- 1520

Stock has something left in the piggy bank - enjoy the piggy bank like a kid & get excited for future moves.

After all 1100 is an auspicious number used by most of us.