(( ))- Means circled
L-S - Long First & Short Later
In Year 2008-2009- Engineers India had a parabolic rise from 50 to 500-550 zones. Since then, this stock corrected to 120's in 2013 & has been moving into a long term correct structure which appears to be flat in ((X))- wave
Short Term Opportunity- Buy
Looking for 325-330 as a target zone holding above 300...
Engineers India is witnessing a breakout from daily charts and a close above Rs 280 would confirm the same. Target on this stock would be Rs 320-325 levels
The stock broke the channel and immediately came in the channel gives a chance to trade short for a target of around 251. Stop loss 291 on closing basis.
It is been observed on hourly and daily chart that the price action breaks and closes above the important and strong resistance levels of 275-278, indicating a strong buyers dominance and further bullishness ahead. It may correct to 275 levels before it goes up again. Therefore, I would suggest to keep a good eye on price action in order to reduce risk.
Target:...
LONG ENGINERSIN @ 283-285 for Targets 344 & 383.
ENGINERSIN has moved very well since last bottom it has formed in February 2016 around 138. Since then it has been a steady rise for stock. It has been range bound for a while and Clear breakout has been seen last Week Closing above 280.
It will Reach 344 & 383 Levels Soon.
*Sharing Ideas for Educational Purpose Only.
Stock posted good result so My expectations of opening around 2-4% up in preopen in up level 268-273-277 are resistance if stock facing problems with these levels then short with near resistance as sl..
As seen Price has been contracting in narrow range making lower highs and higher lows in the daily chart. A breakout on the upside with volumes would resume the trend in the upward direction to 315-320 levels. Stop Loss- 247.
Neatly formed Wolfe Wave may drag the price to 240 level so worth trading it with the stop loss of 275. Entry level one can decide himself either tomorrow opening for wait for little pull back.
It is been observed that the price action breaks and closes below the upward trending line on daily chart, indicating further weakness and bearishness. Now, it shall further move down to the next support level at around 252-250 levels. It is also important to note that it is facing a strong resistance at around 275-278 levels.
Target: 252
Stoploss: 280
Engineers India has closed at its multiyear resistance of 251 levels with huge volumes today supported by news of good results. A breakout above this Resistance level should take this counter to 285 levels soon.
