Hi,
An bullish on-neck Breakout pattern emerged on the daily chart of NSE:ELGIEQUIP
MACD on daily, weekly and monthly time frame is on the bullish side and also expecting the bullish setup to continue.
Level of Entry, Exit & Stop loss mentioned on the chart.
This idea is for educational purpose only. Take advice of your financial advisor before making any...
Elgi Equipment- Handle formation yet to complete for the target of 770. Even after C&H breakout, weekly candle close above 583 only will give momentum to fly higher.
Note: This is for educational purpose only.
Cmp- 429.90
Sl should be below 419
Good RR.
Currently available at distal line of Demand zone, below that again demand zone is their and distal line is 420
ELGI EQUIPMENTS posted on 21.10.22 Above 506 for Target 535 and as on 25.10.22 it closed at 524.80 after a high of 531 and on next session it should hit Target.
Happy Profitable Trading to all....
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 502
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn...
