EFOODS Engro Foods Analysis 29 Oct 2013

October 29, 2013 8:49 amComments Off on EFOODS Engro Foods Analysis 29 Oct 2013Views: 622

Rebound Insight 

Our Pivots: 73.12

Our Preference:Start Buying EFOODS above 81 and add averages till 78.12 with a strict stop loss of 73.12 and profit target at 90.02 and 93.67.

Alternate Scenario: Downward Penetration of 73.12  will call for 60.42 and 52.84

NOTE: EFOODS is getting supports from its bearish expansion level of its corrective move from 94.10 towards 121.50 at 79.39, so a short term rebound is expected in EFOODS so its recommended to initiate buying in EFOODS.

Recommendations:

For New Entries (Buy above 81 and add averages till 78.12)

Weekly Chart with Supports and Resistance:

efoodsw29102013

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