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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 2024-08-16 View latest technical analysis

10 day averaged volume of Elgi Equipments is 233391

Date	Daily Closing Price	Open	High	Low	Volume
16 Fri Aug 2024	600.55	607.65	611.00	593.05	1.086 times
14 Wed Aug 2024	602.55	610.00	613.90	591.55	0.785 times
13 Tue Aug 2024	611.65	623.65	624.95	608.45	0.474 times
12 Mon Aug 2024	621.10	629.80	631.70	619.45	0.417 times
09 Fri Aug 2024	630.50	636.85	638.05	629.00	0.384 times
08 Thu Aug 2024	631.80	641.40	648.85	629.25	0.287 times
07 Wed Aug 2024	640.15	652.00	652.00	631.25	0.738 times
06 Tue Aug 2024	640.80	649.95	667.95	633.95	0.689 times
05 Mon Aug 2024	640.40	676.00	676.30	636.00	0.974 times
02 Fri Aug 2024	688.35	699.00	699.00	681.00	0.986 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 624.8, but if it comes above 624.8, then a intra day buy could be more profitable.
If you take a sell trade below 624.8, then use 624.8 as stoploss and 579.5 as target. However if you take a buy trade in stock , then use 624.8 as stoploss and 662.51 as target.

Share price targets for Elgi Equipments (ELGIEQUIP)

Target Type	Value
Downside Target	540.15
Downside Target	584.70
Upside Target	629.00
Upside Target	651.00
Upside Target	676.30
Upside Target	681.00
Upside Target	720.00
Upside Target	722.00
Upside Target	738.00
Upside Target	762.20
Upside Target	798.95

Intraday share price targets for Elgi Equipments (ELGIEQUIP)

Target Type	Value
Downside Intraday Target	584.17
Downside Intraday Target	567.78
Upside Intraday Target	624.32
Upside Intraday Target	648.08
Upside Intraday Target	607.93

Weekly technical analysis of Elgi Equipments (ELGIEQUIP)

Date	Weekly Closing Price	Open	High	Low	Volume
16 Fri Aug 2024	600.55	629.80	631.70	591.55	0.899 times
09 Fri Aug 2024	630.50	676.00	676.30	629.00	0.388 times
02 Fri Aug 2024	688.35	709.00	738.00	681.00	0.582 times
26 Fri Jul 2024	705.45	670.00	720.00	651.00	5.249 times
19 Fri Jul 2024	667.30	722.00	722.00	662.50	0.332 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
16 Fri Aug 2024	600.55	698.85	738.00	591.55	0.376 times
31 Wed Jul 2024	692.80	718.45	762.20	651.00	0.57 times
28 Fri Jun 2024	718.45	632.00	798.95	540.15	1.693 times
31 Fri May 2024	610.70	654.25	672.90	588.10	0.696 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 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 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 neutral. A longer time frame might give a better analysis.

ADX buy sell signal for Elgi Equipments stock for short term is SELL. Signal strength is Strong and stock is losing 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 negative zone. This is the SELL zone

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

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 632.55 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.