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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.

10 day averaged volume of Elgi Equipments is 244554

Date	Daily Closing Price	Open	High	Low	Volume
26 Fri Apr 2024	649.00	634.00	654.70	629.50	1.857 times
25 Thu Apr 2024	627.95	613.00	630.00	606.05	0.705 times
24 Wed Apr 2024	617.35	630.00	633.20	614.60	0.929 times
23 Tue Apr 2024	627.90	625.00	630.70	611.05	1.151 times
22 Mon Apr 2024	613.50	625.25	633.00	610.05	0.702 times
19 Fri Apr 2024	623.55	624.05	633.50	613.00	0.36 times
18 Thu Apr 2024	625.95	626.00	641.95	622.35	0.582 times
16 Tue Apr 2024	621.70	635.00	642.00	615.50	0.856 times
15 Mon Apr 2024	629.95	627.00	635.50	604.60	1.218 times
12 Fri Apr 2024	640.45	631.50	666.00	631.00	2.888 times

My analysis of stock is bullish for shortterm, but trade for tomorrow is selective. Take a BUY trade only if stock stays above 640.9, but if it comes below 640.9, then a intra day sell could be more profitable.
If you take a sell trade below 640.9, then use 640.9 as stoploss and 620.54 as target. However if you take a buy trade in stock , then use 640.9 as stoploss and 665.4 as target.

Share price targets for Elgi Equipments (ELGIEQUIP)

Target Type	Value
Downside Target	503.10
Downside Target	524.00
Downside Target	554.00
Downside Target	576.55
Downside Target	604.60
Downside Target	642.00
Upside Target	654.70
Upside Target	666.00
Upside Target	669.00
Upside Target	703.95
Upside Target	714.20

Intraday share price targets for Elgi Equipments (ELGIEQUIP)

Target Type	Value
Downside Intraday Target	618.47
Downside Intraday Target	587.93
Upside Intraday Target	667.12
Upside Intraday Target	685.23
Downside Intraday Target	636.58

Weekly technical analysis of Elgi Equipments (ELGIEQUIP)

Date	Weekly Closing Price	Open	High	Low	Volume
26 Fri Apr 2024	649.00	625.25	654.70	606.05	1.772 times
19 Fri Apr 2024	623.55	627.00	642.00	604.60	0.56 times
12 Fri Apr 2024	640.45	648.90	666.00	616.10	0.2 times
05 Fri Apr 2024	647.65	609.90	669.00	584.70	6.574 times
28 Thu Mar 2024	601.70	593.00	605.00	576.55	1.004 times

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

Monthly technical analysis of Elgi Equipments (ELGIEQUIP)

Date	Monthly Closing Price	Open	High	Low	Volume
26 Fri Apr 2024	649.00	609.90	669.00	584.70	1.351 times
28 Thu Mar 2024	601.70	653.45	714.20	576.55	0.601 times
29 Thu Feb 2024	652.05	611.80	703.95	582.30	1.716 times
31 Wed Jan 2024	614.90	547.25	617.00	524.00	1.297 times

Scroll below to view daily charts

Price has moved up this month, but volume has not increased substantially. This means that the move can be temporary and might not 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 positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

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 negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

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

MACD generated a BUY signal for Elgi Equipments in short term and the buy signal is strong.

MACD line is moving upwards which means that SELL signal is weakening, and buying is picking up momentum.

Elgi Equipments Stock in short term is moving inside a range for now. Please check in a day or two to for a better buy sell signal. Bears are weakening, and bulls are picking up momentum!

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

CCI has generated a buy signal for Elgi Equipments in short term and BUY signal is strong.

RSI is generating a BUY signal in short term and the buying is gaining momentum.

MRSI is in negative zone. This is the SELL zone

Although the stock is in the SELL zone, but selling might be slowing down

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

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 632.35 and Elgi Equipments (ELGIEQUIP) stock is trading above this level. This is a good sign for the stock and it could move higher. 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 negative.

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