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

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

Showing technical analysis as on 2024-03-14 View latest technical analysis

10 day averaged volume of Elgi Rubber is 145676

Date	Daily Closing Price	Open	High	Low	Volume
14 Thu Mar 2024	49.55	45.05	52.00	45.05	1.353 times
13 Wed Mar 2024	45.70	50.40	55.00	44.70	3.229 times
12 Tue Mar 2024	49.10	52.40	54.45	45.80	1.408 times
11 Mon Mar 2024	53.05	57.50	59.00	52.05	0.781 times
07 Thu Mar 2024	57.00	56.70	58.55	56.00	0.244 times
06 Wed Mar 2024	56.70	59.35	59.40	55.00	0.591 times
05 Tue Mar 2024	58.95	61.15	62.55	58.35	0.442 times
04 Mon Mar 2024	61.15	62.50	63.05	60.85	0.269 times
02 Sat Mar 2024	62.60	64.00	64.00	61.50	0.095 times
01 Fri Mar 2024	62.75	61.45	65.00	61.45	2.055 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 53, but if it comes above 53, then a intra day buy could be more profitable.
If you take a sell trade below 53, then use 53 as stoploss and 46.7 as target. However if you take a buy trade in stock , then use 53 as stoploss and 58.35 as target.

Share price targets for Elgi Rubber (ELGIRUBCO)

Target Type	Value
Downside Target	41.00
Downside Target	44.70
Upside Target	53.85
Upside Target	55.00
Upside Target	57.25
Upside Target	61.00
Upside Target	63.05
Upside Target	63.90
Upside Target	65.00
Upside Target	68.40
Upside Target	69.90

Intraday share price targets for Elgi Rubber (ELGIRUBCO)

Target Type	Value
Downside Intraday Target	43.17
Downside Intraday Target	36.78
Upside Intraday Target	57.47
Upside Intraday Target	65.38
Upside Intraday Target	51.08

Weekly technical analysis of Elgi Rubber (ELGIRUBCO)

Date	Weekly Closing Price	Open	High	Low	Volume
14 Thu Mar 2024	49.55	57.50	59.00	44.70	4.383 times
07 Thu Mar 2024	57.00	62.50	63.05	55.00	0.16 times
02 Sat Mar 2024	62.60	67.90	69.90	58.10	0.714 times
23 Fri Feb 2024	66.80	58.70	68.40	56.00	2.529 times
16 Fri Feb 2024	59.30	57.95	61.00	53.85	0.736 times

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

Monthly technical analysis of Elgi Rubber (ELGIRUBCO)

Date	Monthly Closing Price	Open	High	Low	Volume
14 Thu Mar 2024	49.55	61.45	65.00	44.70	0.306 times
29 Thu Feb 2024	61.10	58.95	69.90	53.85	12.919 times
31 Wed Jan 2024	58.15	60.80	63.90	57.60	0.104 times
18 Mon Sep 2023	54.05	50.10	59.85	45.40	0.461 times

Scroll below to view daily charts

Price has moved down 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 Rubber (ELGIRUBCO)

Price action analysis of Elgi Rubber ( (ELGIRUBCO) ) 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 Rubber ( (ELGIRUBCO) ) based on a short to mid 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 Rubber ( (ELGIRUBCO) ) 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 Rubber stock for short term is SELL. Signal strength is Strong and stock is gaining momentum.

MACD generated a SELL signal for Elgi Rubber in short term and the sell signal is strong.

Elgi Rubber 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 red color and prices are below the red cloud Prices appear to be moving up

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

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 Rubber is picking up selling momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 52.54 and Elgi Rubber (ELGIRUBCO) stock is trading below this level. This means that stock is falling with high volumes. VWAP is falling down

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

Elgi Rubber Stock has given negative 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.