when price drop in the previous 2019 price reacted from a strong demand zone in the half and monthly,
Last Time Price Hits Monthly & weekly Strong Supply Zone, then all demand zone Back to Back Breaks,
Now Price hits Weekly Dz, there are two excuition level 1st zone very good,
if market in strong selling presure may be change to price...
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1-At support , 69 is acting as strong support on closing basis.
2. Has mad double bottom at as per chart.
3- trendline shows support at current levels.
4- dragon fly doji near same bottom shows that there is buyers interest at cmp.
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Engineers India on a weekly chart is above 20 and 50 EMA, on a daily chart it has crossed the Darvas Box and EMA are moving UP. Volume wise it is double compare to yesterday.
SL : 5 - 10%
Next Tranche: Post 89
# Engineers India has Broken Important Support Trendline (500 Days) and Price Closed Below It.
# Price is consistently making Lower Top Lower Bottom as per Dow Theory.
# Expected Tartest Levels may be seen are 58-60.
Engineers india on support level of ~70, if it decides to form W on weekly chart, then 90 can be expected. if the fall continues then next support of 60.
RRR of 2.
Educational purpose only. Not a recommendation.