This is the analysis of EPL in Daily Time Frame. Watch carefully. The chart explains itself.
There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or breakdown.
Always maintain your risk management.
Book your profit according to your “STOMACH”.
Disclaimer:
This...
EPL Limited (formerly known as Essel Propack Limited),is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the Beauty & Cosmetics, Pharma & Health, Food, Oral
This stock has good fundamental ,and technical strong ,and in uptrend.so in our view stocka can go up to 215 in short term .exit when target achive.
As one can see it form triangle pattern in monthly chart while moving above all averages with rsi moving up ..can it breakout 220-240 area to retest ath..let us observe as learning through sharing .
Lot of confluence seen on this chart.
1. Good break and retest of resistance which is used as SL:200
2. Retest level co-inside with 20ma and 200ma
3. 20ma is rising so we are in buy on dips mood. (as discussed in earlier moving average post)
4. Earlier resistances 250 and 280 are now our target
5. Good volumes in green weeks means good buying at lower levels.
Reason for long
a) Mr.G set up
b) powered by QQE
c) W formation
d) monthly breakout
e) Trendline brekout
c) channel support for long
d) good risk reward zone
SL compulsory
Previous resistance could become support, if the level is broken and price sustains above it. Never trade without a stop loss.
Volatility is part of the game, and even our friend.
Bullish Structure as per Dow Theory
CMP 211.80
Target 222, 240+
SL : 190
Risk is yours and Reward is too yours totally.
Time Frame : 1 to 3 months
Volumes are being increased drastically.
Long Term Target : 450
DISCLAIMER
Our video is intended only to provide general and preliminary information to traders/investor and shall not be considered as any investment decision. Do your own analysis, This is not a buy or sell tip. This is just for educational purpose only. And I'm not responsible for your Profit or loss as I'm not a SEBI registered financial advisor.
