looks like golden cross and breakout of range with volume seems like decent breakout and long opportunity to go long in Enginersind with wave supporting seems 5th wave.
Lets see how market react ... im long and strong
manage your risk with 2%
Engineers India - Weekly - Breakout
Self Explanatory chart, RSI and MACD positive
volumes are increasing, candles are small, huge consolidation, already was trading in a downtrend channel but now again entering the same channel. its a short term Pure Trade
NSE:ENGINERSIN Levels already mentioned..
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Enter at CMP for target of 75 & 80 . Its positional trade hold till 80.
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Enginersin 1day candle (Triangle pattern)
The breakout will happen anytime soon
To conform the break wait for the retrace candle(it may not happen sometime)
Trade with good stop-loss
Note: check the volume when the breakout happen
(Trading is probility)
I WILL LOOK AT BUYING OPPORTUNITIES AT ENGINERSIN because :
It is forming a continuous channel pattern.
It is kind of expanding pattern .
It has been taking the support of the lower trend line.
Now the price is again at its support level so will be looking at buying opportunities.
Entry : 67
First Target : 75
Second Target : 82
Stock has tested in major support zone of 63 and bounce back from those levels and broke the down trendline indicating continuation of the current momentum. A Fresh can be initiated at 66.5-67.5 levels with stoploss below previous swing low for target 1 and target 2