Technical View: Engineers India Ltd (EIL)

3 514
Pattern Formation
  • The stock is moving inside a sideways accumulation range between ₹188–₹200.
  • Multiple swing highs formed in the ₹212–₹220 region created a liquidity pool.
  • Price repeatedly wicked above these highs, indicating Buy-Side Liquidity Hunt.

Breakout Behaviour
  • A strong bullish candle broke above the short-term descending line.
  • Sustaining above ₹212 will confirm a true breakout from the liquidity zone.

Candlestick Pattern
  • A strong bullish reversal candle formed at the accumulation low.
  • This candle marks the origin of the new bullish move.

Target Setup
Entry: Above ₹212
Stop-Loss: ₹196
Targets:
T1: ₹220
T2: ₹228
T3: ₹235
Disclaimer
This analysis is for educational purposes only. Not investment advice. Traders should manage risk and do their own analysis.

Penafian

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