EFCI VCP patternit has formed a VCP pattern on daily chart.
bottom wicks in the recent candles, indicating denial to go down. there is good amount of buying interest from buyers.
today it is forming hammer. follow through can lead to rally.
EFCIL trade ideas
EFCEFC (1) Ltd.
TF: Daily
Breakout done
Entry: two types of entry possible
Above 516 (Fibonacci level 0.618)
Or, around support 484 (Fib. Level 0.5) if retraces
Targets: 560, 610
SL: below 480 closing (for entry above 516) or below 450 closing (for entry around 484)
Only for educational purpose
EFCIL LongBSE:EFCIL is taking support at 370 level and may go up to 480 level in near term. It can achieve following targets in near term:
Target 1: 415
Target 2: 440
Target 3: 480
Disc: Not a Reco
