'ELECON' ready to switch 'ON' 💡💡 !!!!On daily basis, 'Elecon' has given a breakout from an inverted head and shoulder
pattern which was under construction since November with buzzing volumes.
On weekly basis, a breakout of cup and handle pattern is visible with rising RSI
also RSI has breached above 60 which is a positive sign.
On monthly basis, a breakout of 'N' pattern is visible which signifies the strength i.e. after
retracement it is still giving a breakout.
Here, RSI took support at 60 and witnessed the breakout.
NOTE:- the only sign of caution is that spinning top is visible and RSI has reached resistance level on daily charts,
also dividend is pending, so there is a chance of retracement on daily basis hence, try to accumulate near
breakout level.
ELECON trade ideas
YR 2022 Idea #61: Long on ELECONThis is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. Our objective to help anyone who wants to learn technical analysis using charts by demonstrating my real trade entries. You can post your queries in comment section here and we will try to answer them asap.
Elecon Ichimoku Bullish Breakout Stock Name - Elecon Engineering. As per the ichimoiku rule, today's close is above the Conversion Line and future kumo
is super bullish and chikou span is slanting upwards. All these parameters are showing bullishness at CMP>
And More strenght will be visible above 235. Worth to keep in watch list for coming days.
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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#ELECON - POTENTIAL BO#ELECON - POTENTIAL BO
CMP : 204.65
Disclaimer : We are not Sebi registered analyst or Authorized analyst
The charts / Levels / Price projections are only for educational purpose.
This is our personal view, Pls consult your financial advisor before taking decision - Buy / Sell
We will be not responsible for your profit and Loss
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Buy Today, Sell Tomorrow: ELECONDON'T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Book profits within the first 30 minutes of the market opening
- Try to exit by taking 3-5% profit of each trade
- SL can be taken when the 5/15 min candle closes below 44EMA
- SL can also be maintained as 1% or closing below the low of the breakout candle
The levels mentioned on the chart are calculated using the BREAKOUT INDICATOR
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: ELECON
#StockMarket #StockIdeas #StocktoWatch #StockToBuy #positionalELECON ENGG
Stock give good resistance breakout and retracing and holding levels
Good to buy at CMP or add more above 190 levels for short term targets of 205-208-210 levels
In case of Gap-Up and Gap-down avoid setup
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
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