Engineers India : Engine on run
Buy on hourly close above 131 with stop loss below 122 for target 160.
Engineers India has been consolidating in 100-130 range from last 8-9 months. It has given breakout within the pattern but still not able to cross 130 range. 20 DEMA is above 50 DEMA. 50 HEMA is above 200 HEMA. Volume has been good in the run from 100 to 130. 120 will act as support zone.
Counter is still in range and we would wait for hourly or daily close above 131 to get clear trend.
Engineers India has been consolidating in 100-130 range from last 8-9 months. It has given breakout within the pattern but still not able to cross 130 range. 20 DEMA is above 50 DEMA. 50 HEMA is above 200 HEMA. Volume has been good in the run from 100 to 130. 120 will act as support zone.
Counter is still in range and we would wait for hourly or daily close above 131 to get clear trend.
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