Buy Elgi Equipments Ltd For Target Rs.390 - Religare Broking
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Elgi Equipments Ltd. (ELGIEQUIP)
* Elgie Equipments has been among the top performers in the manufacturing space as it moved almost vertically from the low of 50 in 2020 to a new record high of 566.60 in September this year.
* In line with the market corrective phase, it also retraced to the support zone of the previous consolidation range and formed a fresh base.
* It looks set to resume the trend after spending nearly a month under consolidation. We thus recommend creating fresh longs in the mentioned zone.
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