ELGIEQUIP - IntraDay Trade Analysis

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

🛠️ Intraday Trade Analysis for ELGIEQUIP

⭐ IntraDay Trade Rating

3.9

ELGIEQUIP stands out with robust quarterly earnings growth, strong ROCE/ROE, and clean technical structure above its moving averages. However, the low volume today versus its 1-week average hints at restrained trader interest — a limiting factor for breakout strength.

📊 Technical Pulse Check

RSI: 55.5 → Mildly bullish. Indicates momentum buildup, but not overheated.

MACD: 11.1 → Bullish zone, good slope; reflects ongoing trend support.

Volume: 5.01L vs Avg 20.63L → Weak volume; risk of price drifting without follow-through.

Price > DMA50 ₹534 & DMA200 ₹539 → Supportive trend structure.

🛒 Entry Strategy

Buy Zone: ₹560–₹565 Best entry on pullback to ₹560 with reversal candle and intraday volume >8L.

Profit Targets

Target 1: ₹573 (recent price resistance zone)

Target 2: ₹582 (extension if RSI crosses 59+ and volume spikes)

Stop-Loss: ₹552 Just below minor support and psychological barrier.

🔁 Exit Strategy for Ongoing Intraday Position

Bullish Exit Cues

Price hits ₹573–₹582, RSI over 58.

MACD histogram plateaus and volume starts to taper.

Risk Signals

Price drops below ₹556 with increasing sell volume.

RSI slips below 52 + MACD trend flattens or turns.

Trailing Stop Technique: If price pushes past ₹582, move SL to ₹568 and ride momentum until 2:30 PM.

💡 Trading Takeaway

Today’s setup leans moderately bullish with improving price action but light participation. Treat it as a nimble trade — momentum needs validation through volume to sustain gains.

Want me to scan mid-cap industrials with stronger volume inflow or breakout setups for the next session? Could uncover something more turbocharged. ⚡📈

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