Breakout in ELGI RUBBER Ascending Triangle Breakout Setup
RSI above 65 and rising
Trading above EMA50
Volume spurt
Beating ATH
Disc: for study, not a recommendation
ELGIRUBCO trade ideas
ELGIRUBCO breaking out of C&H!⚠️Risky Bet.
1⃣Entry: Above 143. Safe to wait for day closing.
2⃣SL: 113.7 Closing basis. Risk is 22% so trade very light or tweak SL as per your appetite.
Technicals:
1⃣C&H on on DTF.
2⃣Volume Buildup with price movement.
3⃣Good Relative Strength
4⃣Wide Range Candles.
Risks ⚠️
1⃣Circuit stock(LC/UC)
2⃣Bearish Market.
The chart is shared for educational purposes only. Please do your due diligence.
ElgiRubber - Multi year cup and handle breakout retestELGI Rubber co. Cup and Handle pattern
One can enter in to this stock between 65 to 90 for upward targets
Invalid below - 48
Disclaimer : Educational Content. Do your own research
Elgi rubber- cup and handle and rounding bottomElgi rubber- C&H breakout done on monthly. Rounding bottom breakout pending at 71. Enter after weekly close above 71 for the target of 100 and 130.
Note: This is for educational purpose only.
#ELGIRUBCO WTF BO with VolumeWTF Stock is in UT, Formed a Cup & Handle BO
The volume before BO was less, on BO 5x avg volume
RS Line making 52WH
MACD Bounce
ELGIRUBCO#InvestmentPick
CUP & HANDLE PATTERN FORMATION
Buy @ cmp 35 & in dips till 24.50 | MCBSL 16
Short-Term to Mid-Term Tgt - 42 / 50
Long-Term Tgt - 73 / 90
Analysis Request: Elgi Rubber@sajid11 :
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Jumping to stock analysis(Technical):
It is currently captured in a range-bound space. thus if you're a movement chaser, then consider buying it above 50 with a decisive weekly close.
Else, for Long term investing current range of accumulation is (35.5 to 37.5).
Either way, the Target 1 could be 63.5. But it can safely move beyond 70.
(Fundamental trivia):
Rubber is highly dependent on global demand, with production concentrated in South Asian countries. Hence, high covid lockdown in China + Most anticipated Capex cycle of India will be beneficial for this stock in the next 6months to 1 year.
P.S.: This is my point of view, kindly take a buy/sell decision based on your risk capacity. Also, not a Financial advisor.
Lastly, Help others to grow together! :)
#ELGIRUBCOELGIRUBCO Ready for a rise
All time frames have momentum
Descending Lows are done
Crossed MIZone
Elgi Rubber. Turnaround in trend with inverse head and shoulderPrevious trend: Down Trend (66 to 11)
Present trend: Consolidation (price has again tested Neckline)
Support: 23.90 and 16.10
Resistance: 36.55 and 49.15
Reversal Pattern: Inverse Head and Shoulder
Volume: highest volume of 2.7 mn on the day downward trend line broken.
Price invalidation level/stoploss: 22 on Monthly Closing Basis.
Disclaimer: Only for educational purpose. Do trade as per your risk management.
Expecting Breakout ✌✌✌This scrip is expected to give breakout in the coming days. So traders keep on your radar to catch the momentum. Thanks to all 🙏🙏🙏
Reasons to buy this stockA beautiful Morning start pattern formed with good volume
Bullish volume are significantly larger than bearish volumes recently
MACD and RSI and DEMA indicates a buy.
Trend is bullish with higher highs and higher lows
Look at fib retracement in diagram and its respected so beautifully.
All these indicate towards a definite buy
BUY CALLBUY CPM - 39
SL BELOW - 33.75
TARGET - 55'
Disclaimer
We are not a SEBI registered analyst. These calls are for educational and learning purposes only. NIKKUDORI5 is not responsible for any profit or loss due to your trade. Profit and loss are subject to market conditions and trader or investor sentiment. Always trade at your own risk. Please consult your SEBI registered financial advisor before trading on investing. No profit guaranteed.
DARVAS ka pitara Keep this stock in watchlist for Monday. Also can be considered as a candidate for swing Looks a bit illiquid please be cautious.
Watchout for Resistance breakoutThe stock looks good above 41.85 level for 5-7% further upmove positionally
Elgi Rubber's Rally may continue- There has been significant increase in volume.
- EMA 50 is about to cross and move above MA 200.
- Keep an eye on this Stock.
