📊 Engineers India Limited – Weekly Technical View
CMP: ~₹176 | Timeframe: Weekly
Trend: Higher-timeframe uptrend, currently correcting
🔍 Structure
After a strong rally in 2023–24, the stock is in a healthy corrective phase inside a broad rising structure. This is consolidation, not breakdown.
📌 Key Levels & Psychology
🟦 Buy Zone: ₹167–199 (50%–78.6%)
• Value area after rally
• Dip buyers & short covering active
🟨 Deeper Buy Zone: ₹147–152
• Panic selling exhaustion zone
🔴 Invalidation: Weekly close below ₹141
• Structure weakens below this
🎯 Upside Levels
• ₹199: First resistance
• ₹263–273: Major target zone (prior supply)
🔮 Outlook
Above ₹167 → base building likely
Above ₹199 → momentum revival
Below ₹147 → caution
Below ₹141 → trend damage
📌 Corrections test patience before trends resume.
⚠️ Educational only | Not a SEBI registered analyst
CMP: ~₹176 | Timeframe: Weekly
Trend: Higher-timeframe uptrend, currently correcting
🔍 Structure
After a strong rally in 2023–24, the stock is in a healthy corrective phase inside a broad rising structure. This is consolidation, not breakdown.
📌 Key Levels & Psychology
🟦 Buy Zone: ₹167–199 (50%–78.6%)
• Value area after rally
• Dip buyers & short covering active
🟨 Deeper Buy Zone: ₹147–152
• Panic selling exhaustion zone
🔴 Invalidation: Weekly close below ₹141
• Structure weakens below this
🎯 Upside Levels
• ₹199: First resistance
• ₹263–273: Major target zone (prior supply)
🔮 Outlook
Above ₹167 → base building likely
Above ₹199 → momentum revival
Below ₹147 → caution
Below ₹141 → trend damage
📌 Corrections test patience before trends resume.
⚠️ Educational only | Not a SEBI registered analyst
Trade active
As seen in the updated chart, the price respected our analysis to the dot! 🎯The stock took support exactly at the trendline and the lower end of our accumulation zone.
Current Price: 226.62
Move Captured: From our average entry zone (~175), the stock has rallied over +28% effortlessly! 🚀
Trade closed: target reached
This isn't just about a trade; it's about the methodology that drives it. We don't guess—we plan based on:Structural Confluence: Understanding triangle patterns and key support/resistance zones.
Fibonacci Discipline: Knowing precisely where institutional buyers are likely to step in.
Defined Risk Management: Stating the exit before the entry.
If you are tired of noise and want consistent, high-probability trade setups with clear entries and validated targets, you know where to find us. This level of execution is standard for us.
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Happy Trading!
Disclaimer: This post is for educational purposes only. It is not financial advice. All trading involves risk. Our past performance is not a guarantee of future results.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.