EN­GI­NEERS INIDA

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I am hold­ing stocks of En­gi­neers In­dia at an av­er­age price of Rs 115. Should I con­tinue to hold this scrip?

- Thomas Philip

CMP: ₹124.45 BSE Code: 532178 HOLD WITH STOP LOSS OF RS 115 ON A CLOS­ING BA­SIS.

En­gi­neers In­dia Ltd. is cur­rently trad­ing at Rs.124.45. Its 52-week high/low stand at Rs 206.20/Rs 100.45 made on De­cem­ber 26, 2017 and Oc­to­ber 9, 2018, re­spec­tively. As per the tech­ni­cal in­di­ca­tors, the stock is in an up­trend for the medium term. Con­sid­er­ing the daily time frame, the stock has re­cently given break­out of down­ward slop­ping trend­line formed by con­nect­ing the swing highs of Septem­ber 17, 2018. The break­out was sup­ported by jus­ti­fi­able vol­umes. The stock is trad­ing above its cru­cial short term mov­ing av­er­age, i.e. 21-day EMA and it is in ris­ing mode, which is pos­i­tive for the stock. The in­di­ca­tors and os­cil­la­tors are also in bullish ter­ri­tory. On the up­side, the stock is likely to touch Rs 127, fol­lowed by Rs 133, in the near term. Hence we rec­om­mend you to hold En­gi­neers In­dia with stop loss of Rs 115 on a clos­ing ba­sis.

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