Comments
The short-term outlook is bullish for Engineers India. The stock surged 6.7 per cent Friday and has closed on a strong note for the week. This rise has taken the share price well above the key resistance level of ₹230. It confirms a bullish inverted head and shoulder pattern on the daily chart. This marks the end of the corrective fall and also indicates the beginning of a fresh leg of upmove. Engineers India share price can rise to ₹280-285 over the next few weeks. Traders can go long now at ₹237. Accumulate on dips at ₹232. Keep the stop-loss at ₹214. Trail the stop-loss up to ₹242 as soon as the stock price goes up to ₹248. Move the stop-loss further up to ₹258 when the price touches ₹265. Exit the stock at ₹278.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.