After crossing 200EMA Engineers india holding strong above 200 EMA, it could be a Good entry after a successful breakout of 130.
if you are passive investor then you can enter after 140 breakout and also when 100EMA crosses 200EMA.
Long @120 for 145 SL 110.
Share taken support @78% Fibb level since last 4 months. Crossing 50 weekly moving average & trading above 200 Daily average for a week.
All this shows support to upmove with a week. Keep tight SL as on candlestick it has not yet strong strength.
Buy on hourly close above 131 with stop loss below 122 for target 160.
Engineers India has been consolidating in 100-130 range from last 8-9 months. It has given breakout within the pattern but still not able to cross 130 range. 20 DEMA is above 50 DEMA. 50 HEMA is above 200 HEMA. Volume has been good in the run from 100 to 130. 120 will act as support...
Engineers India has been in a down trend since December 2017. After consolidation of several months forming a triangle, the stock finally appears to have broken out today. ITs certainly worth checking this breakout is sustainable and then join the LONG ride!
ENGINERSIN is bullish with uptrend above ichimoku cloud and has long contracts built in a falling market.
Enter Engineers India (ENGINERSIN) in CASH around 124.35 with Stop-loss 122.3 and Target of 131.45