On a 1-day time frame, Engineers India formed a falling wedge pattern and a descending triangle pattern and got a breakout with a successful retest. Best opportunity to buy and hold the stock. 60 will be the support 1 and 50 will be the support 2 of the stock below that exit position.
Engineers India Limited is an Indian government owned engineering consultancy service provider. It is under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It was set up in 1965 with the mandate of providing indigenous technology solutions across the hydrocarbon projects.
when price drop in the previous 2019 price reacted from a strong demand zone in the half and monthly,
Last Time Price Hits Monthly & weekly Strong Supply Zone, then all demand zone Back to Back Breaks,
Now Price hits Weekly Dz, there are two excuition level 1st zone very good,
if market in strong selling presure may be change to price...
Engineers India on a weekly chart is above 20 and 50 EMA, on a daily chart it has crossed the Darvas Box and EMA are moving UP. Volume wise it is double compare to yesterday.
SL : 5 - 10%
Next Tranche: Post 89
Chart looking good at cmp. This level has been acting as good support. Fundamentals aren't bad. Not a company having so much debt. Covid created some impact but performance has seen some recovery. If not for the long term can be taken for a swing trade if one finds a reversal.
Need Closing above 90.15
Exit Position once it breaks the below trendline
Targets: 102, 108, 122.80
Disclaimer: This is just for learning purpose. Invest before consulting your financial advisor
Engineers India looks good in weekly TF
A good candidate for positional trade
Targets - 120,160
Stop Loss - 68
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Please stay safe! Happy Trading!
1. BO at 84 and immediate renitence at 93
2. Buy at CMP @86 and average till 80
3. SL 80
4. Target 100/120/170
Disclaimer: This is educational purpose only.
Please share your thoughts in the comments section below.
Weekly close must be above yellow line for breakout confirmation.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
IT IS A CONSOLIdation phase.
wait and once it susstains 88 level ten you can go for a buy.
there is ascending triangle
FOR THE TARGETS OF 105
ITS 2O EMA & 50 EMA ARE PROVIDING STRONG SUPPORTS AS YOU CAN SEE ON THE CHART.
KEEP THHE STOP LOSSES AT THESE 2 EMAs.