ISGEC-A beautiful ATH breakout is doneISGEC is a company from heavy engineering sector which has been in a good bull run based on consistent growth.
Stock has formed a cup & handle pattern and gave good breakout yesterday.
Momentum traders should keep this stock on their watchlist as this stock can give quick 10-20% returns.
This is my personal opinion and not a recommendation.
Isgecheavyengineering
Possible trend breakout in ISGEC Daily chartOver the past few months, this stock has been correcting from its 52-week high. 500-520 which earlier acted like major support was broken and now acting as assistance. now price is testing this level for upward momentum. Watch out for this breakout and we can buy if the price closes above 535 with good volume in day chart.
Trade set-up
1)Entry around 535-540
2) Target 582, 677, 828.
3) Maintain strict Sl at 436.
This is just a view, not a recommendation. Do your own analysis before taking any decision.
Please let me know your views on this in the comment section.
ISGEC HEAVY ENGINEERING- Long Term Bottom in Place?ISGEC Is a proxy to upcoming capex and ethanol play
ISGEC Heavy Engineering Ltd is a diversified heavy engineering company engaged in manufacturing and project business with an extensive global presence. It manufactures process plant equipment, presses, Iron & Steel castings & Boiler pressure parts.
It also undertakes turnkey projects for setting-up boilers, power plants, sugar plants, distilleries, factories and others. It also has strengths in the business of construction.
It is also engaged in the business of manufacture of sugar and its by-products through a subsidiary.
ISGEC HEAVY ENGINEERING DAILY CHART ANALYSIS AS ON 26.12.2021ISGEC HEAVY ENGINEERING as per daily chart analysis after a brief consolidation the stock has broken consolidation and also the resistance 641 level. Stock above 660 level for a target 680 level and resistance is at 709 level. Nifty monthly chart forming indecisive doji , weekly chart forming bullish candle and daily chart forming a bearish candle shows this week may continue to be bearish being year end and monthly expiry in next 5 sessions.Investors may continue to book profits.Avoid fresh long positions. Nifty Support is placed at 16890 / 16837 / 16785 / 16693. Resistance is placed at 17152 / 17214 / 17378.