ENIL AVOID ENIL FOR NOW

Can I buy shares of ENIL as it has fallen a lot?

Flash News Investment - - YOUR TECHNICAL PORTFOLIO GUIDE -

ENIL is cur­rently trad­ing at Rs 846. Its 52-week high/low stand at Rs 1008/Rs 667 made on July 5, 2017 and Novem­ber 25, 2016, re­spec­tively. Con­sid­er­ing the weekly time frame, the stock has been trad­ing in a grad­u­ally up­ward slop­ing range which has a trend­line sup­port at around Rs 745 level. Con­sid­er­ing the daily time frame, the stock re­cently has been mov­ing side­ways af­ter a sharp fall from its all-time high lev­els. Its 14-pe­riod RSI has just given a pos­i­tive cross­over in the over­sold zone. How­ever, vol­umes are very low and a bounce could be just short cover­ing. Hence, we sug­gest you to avoid en­ter­ing now.

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