ELECON - IntraDay Trade Analysis

Last Updated Time : 02 Aug 25, 12:58 am

⚙️ Intraday Trade Analysis for ELECON

⭐ IntraDay Trade Rating

3.0

ELECON presents strong long-term fundamentals — low debt, solid ROCE/ROE, and a healthy profit variation — but technicals show a bearish undertone today. The RSI and MACD are both weak, hinting at subdued momentum and possible downside continuation unless reversal cues emerge intraday.

📉 Technical Breakdown

RSI: 35.2 → Approaching oversold zone, but still showing lack of buyer conviction.

MACD: -18.3 → Deep in bearish territory, no bullish crossover in sight.

Volume: 6.45L vs Avg 5.04L → Slightly elevated volume, which could support a dead cat bounce.

Price below both DMA50 & DMA200 → Bearish alignment, suggesting supply pressure.

🛒 Fresh Entry Strategy (Only for Aggressive Traders)

Buy Zone: ₹575–₹579 Only on confirmation of bullish price action (e.g., reversal candle + surge in volume above 7L).

Profit Targets

Target 1: ₹588 (resistance from 5DMA band)

Target 2: ₹598 (if MACD histogram starts converging)

Stop-Loss: ₹565 Below intraday support base.

🔁 Exit Strategy If Already Holding Intraday

Bearish Exit Triggers

Price breaks below ₹573 with rising volume.

RSI falls under 33 and MACD trend worsens.

No pickup in volume past 7L by midday.

Profit Booking Levels

₹588 (first resistance zone)

₹598 (potential stretch target if momentum recovers)

Trailing Stop Technique: If price crosses ₹598, trail SL to ₹585 and monitor late-session price action.

🧠 Trading Insight

Fundamentally, ELECON looks like a stealthy long-term winner, but today it's in a cooling phase. Unless momentum rebounds, treat it as a scalp-only setup with swift exits.

Want me to screen mid-cap industrial peers showing volume spikes or RSI turnarounds for Monday’s session? Might just uncover a stealth breakout. 🛠️📊

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