Compressing the Compressor - Elgi Equipment
Elqi Equipment is a leading manufacturer of Compressor mainly for the Railways. Given the Focus & Investment on railway sector by govt of India - many railway themed stocks are flying.
Elqi Equipment on Monthly is getting compressed in an Bullish Ascending Triangle formation. Its a Double Resistance -
1) Long Term Parallel Channel BO pending
2) Ascending Triangle BO pending
BO for both same - above 580 WCB will take to a target of atleast 300 points to 885. Enjoy the ride
Disclaimer:
Stocks-n-Trends is NOT a SEBI registered company. We do not provide Buy / Sell recommendations - rather we provide detailed analysis of how to review a chart, explain multi--timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide" and consult your Financial Advisors before taking any positions.
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Elqi Equipment on Monthly is getting compressed in an Bullish Ascending Triangle formation. Its a Double Resistance -
1) Long Term Parallel Channel BO pending
2) Ascending Triangle BO pending
BO for both same - above 580 WCB will take to a target of atleast 300 points to 885. Enjoy the ride
Disclaimer:
Stocks-n-Trends is NOT a SEBI registered company. We do not provide Buy / Sell recommendations - rather we provide detailed analysis of how to review a chart, explain multi--timeframe views purely for Educational Purposes. We strongly suggest our followers to "Learn to Ride the Tide" and consult your Financial Advisors before taking any positions.
If you like our detailed analysis, please do rate us with your Likes, Boost and share your comments
-Team Stocks-n-Trends
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