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(ELGIEQUIP) Elgi Equipments complete technical analysis [charts+indicators] | Buy/Sell Elgi Equipments | (ELGIEQUIP) share price targets

Complete technical analysis of Elgi Equipments (ELGIEQUIP) by charts plus indicators, forecast predictions and share price targets for Elgi Equipments (ELGIEQUIP)

Elgi Equipments trades in NSE in Industrial Machinery sector.

Showing technical analysis as on 2024-02-27 View latest technical analysis

10 day averaged volume of Elgi Equipments is 707210

Date	Daily Closing Price	Open	High	Low	Volume
27 Tue Feb 2024	631.95	622.95	635.20	617.05	0.245 times
26 Mon Feb 2024	621.90	634.00	635.65	620.20	0.12 times
23 Fri Feb 2024	632.45	634.15	637.00	624.10	0.135 times
22 Thu Feb 2024	629.10	649.50	651.00	622.50	0.431 times
21 Wed Feb 2024	646.70	631.60	669.80	631.60	0.8 times
20 Tue Feb 2024	630.25	632.40	674.00	626.00	1.245 times
19 Mon Feb 2024	631.75	645.65	645.70	630.80	0.114 times
16 Fri Feb 2024	640.55	649.90	661.35	636.50	0.381 times
15 Thu Feb 2024	647.75	660.00	667.00	642.15	0.42 times
14 Wed Feb 2024	668.15	613.00	683.50	612.00	5.282 times

My analysis of stock is bearish for shortterm, and stock might move down till 612.1 or till 582.8. Use a stoploss of 636.53 and if the stock hits stoploss, then it can shoot up till 660.97

Share price targets for Elgi Equipments (ELGIEQUIP)

Target Type	Value
Downside Target	466.80
Downside Target	497.00
Downside Target	517.00
Downside Target	540.90
Downside Target	554.00
Downside Target	580.45
Downside Target	606.60
Downside Target	622.50
Upside Target	635.65
Upside Target	674.00
Upside Target	699.00
Upside Target	703.95

Intraday share price targets for Elgi Equipments (ELGIEQUIP)

Target Type	Value
Downside Intraday Target	620.78
Downside Intraday Target	609.62
Upside Intraday Target	639.38
Upside Intraday Target	646.82
Downside Intraday Target	628.22

Weekly technical analysis of Elgi Equipments (ELGIEQUIP)

Date	Weekly Closing Price	Open	High	Low	Volume
27 Tue Feb 2024	631.95	634.00	635.65	617.05	0.134 times
23 Fri Feb 2024	632.45	645.65	674.00	622.50	0.363 times
16 Fri Feb 2024	640.55	679.80	699.00	606.60	1.345 times
09 Fri Feb 2024	679.80	606.60	703.95	582.30	1.787 times
02 Fri Feb 2024	606.60	584.00	619.90	580.45	0.737 times

Price has moved down this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Elgi Equipments (ELGIEQUIP)

Date	Monthly Closing Price	Open	High	Low	Volume
27 Tue Feb 2024	631.95	611.80	703.95	582.30	1.653 times
31 Wed Jan 2024	614.90	547.25	617.00	524.00	1.297 times
29 Fri Dec 2023	544.55	535.00	554.00	503.10	1.04 times
30 Thu Nov 2023	531.15	505.35	540.90	497.00	1.103 times

Scroll below to view daily charts

Price has moved up this month, and volume has increased substantially. This means that the move can continue in coming months.

Indicators analysis of Elgi Equipments (ELGIEQUIP)

Price action analysis of Elgi Equipments ( (ELGIEQUIP) ) based on a short term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Elgi Equipments ( (ELGIEQUIP) ) based on a short to mid term time period is negative, but sellers have recently become active on the stock. This cannot be called a strong downtrend, specially if selected time duration is small

Price action analysis of Elgi Equipments ( (ELGIEQUIP) ) based on a mid to longer term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

ADX buy sell signal for Elgi Equipments stock for short term is BUY. Signal strength is Weak and stock is losing momentum.

MACD generated a SELL signal for Elgi Equipments in short term but the sell signal is initial and weak.

Elgi Equipments Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are weakening, and bulls are picking up momentum!

Ichimoku cloud is of green color and prices are in or below the green cloud Prices appear to be moving up

CCI has generated a buy signal for Elgi Equipments in short term but BUY signal is weak.

RSI is generating a BUY signal in short term but buying is losing momentum.

MRSI is in negative zone. This is the SELL zone

Stock of Elgi Equipments is picking up buying momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 654.67 and Elgi Equipments (ELGIEQUIP) stock is trading below this level. This means that stock is falling with high volumes. VWAP is rising upwards.

People seem to be coming out and selling the Elgi Equipments (ELGIEQUIP) stock. Volume based technical analysis of Elgi Equipments (ELGIEQUIP) stock is negative.

Elgi Equipments Stock is giving positive returns over a short term period. Returns for a longer term period have been positive

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.