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
ENGINERSIN has broken out of a falling Trend line.
RSI (14) has also broken out.
Volumes are increasing and above average.
Price seems to be heading to newer highs.
Target 1: 162
Target 2: 171
I do understand the concern of shorting a stock in such a bull market however I do prefer to be market neutral to protect myself for unexpected fall. The stock has formed a Roof pattern so could be shorted here or on little higher price with stop loss of 160. One can expect the level of 138 and 125 as target.