Electrosteel Castings ltd on a daily chart stock
price is making higher high pattern, also its trading above 20 DMA & 50
DMA, indicate stock is well placed above the support level. On a daily chart
stock price at Rs. 25.25 has given the breakout of Cup and Handel Pattern at
Rs. 24.45, indicate rally will continue towards north, which will take it
towards another 25 percent.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 25 for the target of Rs. 28/29.50 levels, with Rs.23
stop loss on closing basis.
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