ENRIN - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 4.2
| Stock Code | ENRIN | Market Cap | 1,16,765 Cr. | Current Price | 3,279 ₹ | High / Low | 3,625 ₹ |
| Stock P/E | 95.7 | Book Value | 123 ₹ | Dividend Yield | 0.12 % | ROCE | 67.8 % |
| ROE | 50.5 % | Face Value | 2.00 ₹ | DMA 50 | 2,905 ₹ | DMA 200 | 2,888 ₹ |
| Chg in FII Hold | 0.38 % | Chg in DII Hold | -0.08 % | PAT Qtr | 351 Cr. | PAT Prev Qtr | 360 Cr. |
| RSI | 72.0 | MACD | 139 | Volume | 4,04,700 | Avg Vol 1Wk | 6,02,776 |
| Low price | 2,105 ₹ | High price | 3,625 ₹ | Debt to equity | 0.03 | 52w Index | 77.2 % |
| Qtr Profit Var | 51.7 % | EPS | ₹ | Industry PE | 37.9 |
📊 Chart & Indicators: ENRIN is trading at ₹3,279, well above both 50 DMA (₹2,905) and 200 DMA (₹2,888), confirming strong bullish momentum. RSI at 72.0 indicates overbought conditions, while MACD at 139 shows powerful positive momentum. Price is consolidating near resistance (~₹3,300–₹3,325) with support around ₹3,200–₹3,220. Volume (4.0L) is below weekly average (6.0L), suggesting reduced participation despite strong trend.
🎯 Entry/Exit Zones:
- Buy Zone: ₹3,200–₹3,250 (on dips)
- Stop-Loss: ₹3,150
- Exit Levels: ₹3,320–₹3,350 (short-term resistance), ₹3,600–₹3,625 (major resistance near 52-week high)
📈 Trend Status: Strong uptrend with bullish momentum; RSI overbought signals caution, but MACD and price above moving averages confirm strength. Consolidation possible near ₹3,300–₹3,325 before breakout attempts.
✅ Positive
- Price above both 50 DMA and 200 DMA, confirming strong uptrend
- Exceptional ROCE (67.8%) and ROE (50.5%)
- Debt-to-equity ratio at 0.03, virtually debt-free
- FII holdings increased (+0.38%)
- 52-week index gain of 77.2%
⚠️ Limitation
- High P/E of 95.7 vs Industry PE 37.9 → stretched valuation
- RSI at 72.0 indicates overbought conditions
- Volume below weekly average, showing weak participation
- Dividend yield at 0.12% offers minimal income support
📉 Company Negative News
- Quarterly PAT declined slightly (₹360 Cr → ₹351 Cr)
- DII holdings reduced (-0.08%)
- Valuation concerns due to high P/E
📊 Company Positive News
- Strong quarterly profit variation (+51.7%)
- Price momentum supported by MACD and moving averages
- Virtually debt-free balance sheet
🏦 Industry
- Industry PE at 37.9, much lower than ENRIN’s valuation
- Sector demand remains strong with growth opportunities
- Peers show lower ROE/ROCE compared to ENRIN
📝 Conclusion
ENRIN is in a strong uptrend with bullish technicals, supported by price above moving averages, positive MACD, and exceptional fundamentals. However, stretched valuations and overbought RSI warrant caution. Best suited for swing trades with entry near ₹3,200–₹3,250 and exit around ₹3,320–₹3,350; long-term investors should accumulate cautiously given high P/E and limited dividend yield.
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