EFOODS Engro Foods Analysis 04 April 2014

April 4, 2014 8:50 amComments Off on EFOODS Engro Foods Analysis 04 April 2014Views: 1438

Resistance ahead at 134.76

Our Pivots: 134.76

Our Preference: Short Sell EFOODS below 126.62 and average it out around 130.32 with a strict stop loss of 134.76 and profit target at 118  and 116.75 with Extension 108.44

Alternate Scenario: Upward Penetration of  134.76 will call for 135.10 and 140

NOTE: EFOODS is expansion mode of its previous bullish correction of its price cycle from 118.50 till 95.50 which would be extended till 133.66. Its also going to get strong resistances at that level from it long term 61% Monthly correction and its monthly second resistance. Efoods’s weekly upward price channel’s resistant trend line and its Monthly R1 are also going to behave as strong resistances around 126.62 area so its recommended to short it below 126.62 and add averages till 130.32

Recommendations:

For New Entries (Short Sell Below 126.62 and 130.32 and 132.71 )

For Existing Holders (Hold with strict stop loss and given profit target)

Weekly Chart with Supports and Resistance:

efoodsw04042014

Disclaimer.

High Risk Investment

Trading foreign exchange, Commodities and Equities (Stocks) on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, Commodities and Equities (Stocks) you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss in excess of your initial investment. You should be aware of all the risks associated with foreign exchange, Commodities and Equities (Stocks) trading and seek advice from an independent financial advisor if you have any doubts

Market Opinions

Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

Accuracy of Information

The content on this website is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. We have taken reasonable measures to ensure the accuracy of the information on the website; however, it does not guarantee accuracy and will not accept liability for any loss or damage which may arise directly or indirectly from the content or from your inability to access the website, or for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website.

Comments

comments

Tags:

Comments are closed