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Published on 13/04/2019 10:32:29 AM | Source: Choice Broking Pvt Ltd

Buy Engineers India Ltd For Target Rs.135.25 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Engineers India Ltd #Trading Report #Choice Broking

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* On a daily chart, the stock is sustaining above its Upper Band of Triangle formation which indicates a robust upside movement can be seen in the counter.

* Moreover, the stock is trading above its 200 Days Moving Average which is placed at 120.05 level which shows a positive momentum in the counter.

* A volume activity is very decent along with a rise in price which suggests an accentuated buying in the counter.

* A daily momentum indicator RSI reading is at 61.67 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in a few trading sessions.

Recommendation

Buy Engineers India Limited @ 120.25-121.50 SL 115.00 TGT 135.25 CMP 121.50

 

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