Rebound Insight
Our Pivot: 288.34
Our Preference: Buy ENGRO above 305.89 and average it out till 298.87 with strict stop loss of 288.34 and profit target at 326.43 and 337.49.
Alternate Scenario: Downward penetration of 288.34 will call for 274.30.
NOTE: ENGRO is getting support from supportive trend line of its bullish trend channel along with a strong horizontal supportive region. Weekly 50% correction is completed and Stochastic is ready for a pull back.
Recommendations:
Buy above 305.89 and average it out till 298.87 with target at 326.43.
Weekly Chart with Supports and Resistances:
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