Electrosteel Castings Ltd
CMP : 60.60
1) Stock has broken out above crucial resistance zone and multi year highs
2) Price is consolidating since the last two months between the range of 55 to 65
3) A move above 65 - should generate strong momentum in share prices towards 95 and 105 levels
4) Overall long term structure is very pullish and stock should find...
Electrosteel Castings is a pipeline solution provider engaged in the business of manufacturing ductile iron pipes , ductile iron fittings & cast iron pipes which have plants in Tamilnadu and Westbengal . Stock is a slow mover . Now its almost around 10 year high .Strong fixed asset valuation . Volume shocker with highest recovery from 52 week low. Debtor days are...
stock consolidating from 2007 in the range of about 10 to 50.Nowdays stock trading in between 50 to 65.If stock broke 65 and trading above it for long time then stock will give good return in long term.Wait for monthly closing of this stock.You can also take short term trade or intra-day trade above 63 rs in this stock...Target will updated soon...
Caution:some...
BUY - ELECTROSTEEL CASTINGS LTD
CMP - Rs. 45
Target - 1: Rs. 63
Target - 2: Rs. 78
Target - 4: Rs. 95
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Technicals - Cup and Handle Pattern BO
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This is just a view by an expert analyst, please invest at your own risk.
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Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
