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(ELGIEQUIP) Elgi Equipments complete technical analysis [charts+indicators] | Buy/Sell Elgi Equipments | (ELGIEQUIP) share price targets

Complete technical analysis of Elgi Equipments (ELGIEQUIP) by charts plus indicators, forecast predictions and share price targets for Elgi Equipments (ELGIEQUIP)

Elgi Equipments trades in NSE in Industrial Machinery sector.

Showing technical analysis as on 2024-04-02 View latest technical analysis

10 day averaged volume of Elgi Equipments is 266940

Date	Daily Closing Price	Open	High	Low	Volume
02 Tue Apr 2024	590.15	597.10	598.85	588.10	0.588 times
01 Mon Apr 2024	592.10	609.90	609.90	589.00	0.91 times
28 Thu Mar 2024	601.70	583.75	605.00	578.15	1.929 times
27 Wed Mar 2024	579.40	581.50	589.50	576.55	0.912 times
26 Tue Mar 2024	580.45	593.00	593.00	578.05	0.915 times
22 Fri Mar 2024	589.55	594.50	601.20	584.00	1.308 times
21 Thu Mar 2024	596.90	599.95	617.40	594.20	0.746 times
20 Wed Mar 2024	597.40	629.85	630.00	594.00	1.04 times
19 Tue Mar 2024	629.40	627.00	633.55	626.55	0.358 times
18 Mon Mar 2024	628.05	630.00	636.95	622.55	0.289 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 590.5, but if it comes above 590.5, then a intra day buy could be more profitable.
If you take a sell trade below 590.5, then use 590.5 as stoploss and 539.5 as target. However if you take a buy trade in stock , then use 590.5 as stoploss and 633 as target.

Share price targets for Elgi Equipments (ELGIEQUIP)

Target Type	Value
Downside Target	503.10
Downside Target	524.00
Downside Target	554.00
Downside Target	576.55
Upside Target	602.95
Upside Target	617.00
Upside Target	636.95
Upside Target	672.00
Upside Target	703.95
Upside Target	713.45
Upside Target	714.20

Intraday share price targets for Elgi Equipments (ELGIEQUIP)

Target Type	Value
Downside Intraday Target	582.2
Downside Intraday Target	574.25
Upside Intraday Target	604
Upside Intraday Target	617.85
Upside Intraday Target	596.05

Weekly technical analysis of Elgi Equipments (ELGIEQUIP)

Date	Weekly Closing Price	Open	High	Low	Volume
02 Tue Apr 2024	590.15	609.90	609.90	588.10	0.399 times
28 Thu Mar 2024	601.70	593.00	605.00	576.55	1.004 times
22 Fri Mar 2024	589.55	630.00	636.95	584.00	0.531 times
15 Fri Mar 2024	634.00	702.50	713.45	602.95	1.224 times
07 Thu Mar 2024	699.70	689.85	714.20	672.00	0.579 times

Price has moved down this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Elgi Equipments (ELGIEQUIP)

Date	Monthly Closing Price	Open	High	Low	Volume
02 Tue Apr 2024	590.15	609.90	609.90	588.10	0.054 times
28 Thu Mar 2024	601.70	653.45	714.20	576.55	0.601 times
29 Thu Feb 2024	652.05	611.80	703.95	582.30	1.716 times
31 Wed Jan 2024	614.90	547.25	617.00	524.00	1.297 times

Scroll below to view daily charts

Price has moved down this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Elgi Equipments (ELGIEQUIP)

Price action analysis of Elgi Equipments ( (ELGIEQUIP) ) based on a short term time period is positive, but buyers have become active on the stock recently. This cannot be a definite uptrend, specially if selected time duration is small.

Price action analysis of Elgi Equipments ( (ELGIEQUIP) ) based on a short term time period is positive, but trend is highly volatile. A longer time period analysis might give a better idea of the trend.

Price action analysis of Elgi Equipments ( (ELGIEQUIP) ) based on a short to mid term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Elgi Equipments ( (ELGIEQUIP) ) based on a mid to longer term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the stock.

ADX buy sell signal for Elgi Equipments stock for short term is SELL. Signal strength is Weak and stock is gaining momentum.

MACD generated a SELL signal for Elgi Equipments in short term and the sell signal is strong.

Elgi Equipments Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are weakening, and bulls are picking up momentum!

Ichimoku cloud is of red color and prices are below the red cloud Prices appear to be coming down

CCI has generated a SELL signal for Elgi Equipments in short term and SELL signal is strong!

RSI is generating a BUY signal in short term and the buying is gaining momentum.

MRSI is in positive zone. This is a BUY zone

Although the stock is in the BUY zone, but buying might be slowing down

Stock of Elgi Equipments is picking up selling momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 594.84 and Elgi Equipments (ELGIEQUIP) stock is trading below this level. This means that stock is falling with high volumes. VWAP is falling down

People seem to be coming out and selling the Elgi Equipments (ELGIEQUIP) stock. Volume based technical analysis of Elgi Equipments (ELGIEQUIP) stock is negative.

Elgi Equipments Stock has given negative returns over a short term period. Returns for a longer term period have been negative.

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.