EFOODS Engro Foods Analysis 12 Sep 2013

September 12, 2013 10:06 amComments Off on EFOODS Engro Foods Analysis 12 Sep 2013Views: 265

Downside Prevails

Our Pivots: 122.59

Our Preference: Short Sell EFOODS below 118.04 till 119.34 with a strict stop loss of 122.59 and profit target at 106.15 and 100.44

Alternate Scenario: Downward Penetration of  122.59 will call for 124.87

NOTE: EFOODS have fulfilled its bearish correction and getting resistance from its bullish trend line on weekly bases along with correction levels so its recommended to short sell EFOODS with strict stop losses.

Recommendations:

For New Entries (Short Sell Below 118.04 till 119.34 )

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

Weekly Chart with Supports and Resistance:

EFOODSW12092013

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