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Elecon Engineering Co. Ltd.Elecon Engineering Co. Ltd.Elecon Engineering Co. Ltd.

Elecon Engineering Co. Ltd.

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ELECON trade ideas

ELECONVolatility Contraction Pattern is popularized by Mark Minervini, who is a two times US Investing Champion. Last year he won the championship with a record-beating 300+% in the year. He primarily uses VCP for his trading setups. It is a twist on the ascending triangle pattern with some variation. It has the following characteristics: The Stock must be in stage 2 uptrend. A period of price consolidation must take place in thebase. Price consolidation occurs after a stock has moved up in the price, the consolidation (or correction) is a constructive chart pattern that allows the stock to digest the bullish price movement. Price volatility must contract through the base (from left to right). During this period of price consolidation the stock price will correct. Price must correct through a series of smaller contractions. Each contraction should be tighter than the last, representing the absorption of more weak holders. Ideally this pattern has between2-4 contractions
NSE:ELECONLong
by lokeshparihar
2
Daily Bullish Flag Pattern BO in ELECON ENGGIntroduction: Elecon Engineering Company Ltd. was established in the year 1951 as The Pioneers in the manufacturing of Industrial Geared motors and Reducers, Material Handling Equipment, Mining equipment, casting processes etc. Elecon is one of the largest manufacturers of Industrial Gears in Asia and Material Handling Equipments. The expertise in the successful production of custom gearboxes for steel mills, high-speed turbines, naval aircraft carriers, and many growth sector industries is increased by Elecon's acquisition of Benzlers- Radicon Group from David Brown Gear Systems in 2010. A unit of Elecon Engineering Company Ltd. which is also the 3rd largest Material Handling solutions company in the country along with in-house design, manufacturing, fabrication, component manufacturing, and support system in a Vertically Integrated Model. First in India to manufacture sophisticated equipment for bulk Material Handling and a product range that caters to almost every Industrial sector in India. Analysis A Bullish Flag and Pole pattern is visible on the Daily chart of $NSE:ELECON.The Flag and Pole pattern is a bullish continuation pattern and it is visible in charts after a meaningful appreciation in the price. MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue. One can create a fresh position in the scrip near Rs. 936-956 levels with the stoploss of Rs. 885.15 on Daily closing basis for the following targets 970.15, 989.65,1012.35 1035.45 1060.10 1081.95 1101.85 and 1123.95 Risk Disclaimer: The trading ideas and analyses presented here are for educational purposes only and do not constitute financial advice. Trading and investing in financial markets involve risk. You should carefully consider your own financial situation, risk tolerance, and investment objectives before making any investment decisions. The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is subject to change without notice, and I cannot guarantee the accuracy, completeness, or timeliness of the information provided. Trading and investing carry the risk of substantial losses, and past performance is not indicative of future results. Always be aware that markets can be unpredictable, and prices may move against your trade or investment. It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions. You should only invest funds that you can afford to lose. I am not responsible for any trades or investments made based on the information presented in this analysis. By reading and using this information, you acknowledge and accept that you are solely responsible for any losses you may incur.
NSE:ELECONLong
by raigvivek
BREAKOUT ON ELECON 📌SWING TRADE FOR NEXT WEEK🚀 Hello guys, I am a swing trader by passion i only trade on swing stocks. 📌I post daily SWING CHARTS analysis on my trading view profile.. so let's start 📌TRADE ANALYSIS OF EELECON :- •Breakout of DARVVAS BOX on DTF with strong candle •Break counter trend line and hidden lines •Volume increases last few weeks high •Bullish trend/ make good structure also •Made good price action •Make higher highs/higher lows 📌 Add on your watchlist.... 📌 If you have any questions about any stock you can DM me Or comment on post 📱 📌Disclaimer:- This all chatrs analysis are only for educational purposes only I do not provide any CALL or Tips
NSE:ELECONLong
by UnknownUnicorn31634885
"ELECON: Riding the Strong Uptrend with Confidence"Description: 📈 ELECON: Harnessing the Power of a Strong Uptrend! 🚀 Get ready to dive into an opportunity with ELECON, a stock that has exhibited remarkable strength as it surged from 16 to 1000 levels. Here's why this trade deserves your attention: Key Points: 📊 Entry Price (in Rupees): Consider entering the trade at Rs 730, positioning yourself for potential gains as ELECON continues its upward trajectory. ❌ Stop Loss (in Rupees): Protect your investment with a stop loss at Rs 632. This level serves as a crucial safety net in case the trade doesn't go as planned. 🎯 Target Price (in Rupees): Our target is set at Rs 1000, representing a substantial potential upside. This is where you may contemplate taking profits. 🕒 Trade Duration: Plan to hold this trade for 45 to 90 days, aligning with your trading strategy and market conditions. 📈 Risk-Reward Ratio: The risk-to-reward ratio for this trade is approximately 1:1.62. For every unit of risk, there's a potential reward of 1.62 units, resulting in a risk-reward ratio of "1:1.62." 🚀 Trade Strategy: Stay confident as ELECON rides its strong uptrend. Maintain your stop loss intact and consider trailing it periodically to secure gains as the stock progresses. 📉 Good Correction from Highs: ELECON has experienced a healthy correction from its higher levels, potentially providing an attractive entry point. 📊 Trading on Support: The stock is currently trading on a supportive level, with today's daily candle indicating a potential bounce back. 💰 Favorable Risk to Reward: This trade presents a favorable risk-to-reward ratio, allowing you to aim for higher rewards while diligently managing risk. This trade idea offers a comprehensive plan, complete with a calculated risk-to-reward assessment. Ride the strength of ELECON's uptrend with confidence and seize the opportunity for potential gains. Happy trading! (Note: Always conduct your own research and assess your risk tolerance before executing any trade. Trading involves risks, and past performance is not indicative of future results.) 📊💼🧐
NSE:ELECONLong
by We_Learn_Investing
ELECON - Long Setup, Move is ON..NSE:ELECON ✅ #ELECON trading above Resistance of 530 ✅ Next Resistance is at 635 Related charts: Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:ELECONLong
by Sandeep_Aggarwal
BUY TODAY SELL TOMORROW for 5% DON’T HAVE TIME TO MANAGE YOUR TRADES? - Take BTST trades at 3:25 pm every day - Try to exit by taking 4-7% profit of each trade - SL can also be maintained as closing below the low of the breakout candle Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall Trendline Breakout in ELECON BUY TODAY SELL TOMORROW for 5%
NSE:ELECONLong
by Kapil-Mittal
14