ELECON ENGINEERING

NSE

ELECON

Bullish Bat pattern on Daily Chart of Elecon Engineering. BUY 54-55. Just started learning Harmonics, so don't know how to calculate Target(s) & SL, yet.

Weekly Supertrend in the Green = Bullish Daily William%R bouncing from oversold levels = Pullback done Bouncing back from near 50% fibonacci levels = Bullish Support taken at an old support and resistance area = Demand zone More than 7 times the average volume = Bullish Buy with a stop loss at Rs.59.50 for a target of Rs.70 and above

New levels are seen once it crosses 73. 75 and 80. Stop loss 61 recent bounce back level.

Elecon moving with good volumes and price action!! a break above the trend line and a closing above 86 will take the stock to 95-100 levels easily, keeping a stop of 78!!

elecon may find good support at 70-65 range

breaking out from 10 yr channel...with volume..

Spotted late by enough steam balance. Breakout Target 95

Weekly breakout with volume at CMP 64, adding stock from CMP for target 80-90 for medium to long term with SL 58(weekly closing basis)