ENGROG LONG TRADEENGROH has taken support from its long term trendline.
Though it gave a good bounce but still it needs positive closing above 169 tomorrow
Buy if it crosses and sustains above 169
TP 196
SL 161
ENGROH trade ideas
Bullish divergence in ENGROHBullish divergence is observed in the daily timeframe for ENGROH. The current downtrend is expected to reverse after the bullish divergence. The current downtrend is likely to reverse into an uptrend and reach levels indicated on the chart. When the trend starts to reverse and breaks the entry point level indicated on the chart, it will be considered a confirmation of the trend reverse and a good point to take a long position.
Bullish Divergence has appeared.
Bullish Divergence has appeared.
Plus a Very Important Support level around 165-167
a bounce is expected from this level. However,
unless 193-196 is Crossed & Sustained ,we may not see
the trend reversal.
ENGROH-Long term Buying CallAt present, ENGROH is in bearish trend after making head and Shoulder pattern, and making LL and LH. At the moment, it is taking support at 78.6% Fib level. if it breaks this level, then possible support level will be around 135 which is also projection of Head & Shoulder pattern. For long term buying, suggested level ranges between 135-125.
Strong Bullish DivergenceStrong Bullish Divergence has appeared.
If today's low is not broken,we may witness 173 - 175 initially
& then around 180 - 185.
Bullish momentum in ENGROH Confluences include:
1. RBS zone (Marked on Chart).
2. 78.6% fib level support
3. VSA suggests absorption of large orders at current price level
Price may test 190 to 200
Wait for a Proper Support!Wait for some Bullish Candles to appear at Support level with Good Volumes.
Play On LevelsRetested the Breakout Level around 180 - 185 &
Closed just above a Very Important fib level around
188.
But, 188 - 195 is Very Important Resistance as of now.
If 195 is Crossed with Good Volumes, 212 - 215 can be
touched initially.
Couple of Positive Weekly Candles with comparatively good
volumes may confirm HL on Monthly basis.
On the flip side, 175 - 184 is a Support Zone & also Double
Bottom around 175 - 176, so Short Term Traders may
expect a bounce from this level.
ENGROHENGROH Analysis long term targets
Head/shoulder pattern was formed in daily time frame
but now bullish divergence formed hopefully it will go up
Need to break downtrend line and sustain above 205-214
ENGROH Possibly Established A LowENGROH (184.50) has completed the 61.8% Fibonacci retracement of its 134.36 to 287.88 rally at 179.76, marking a decline of over 35% from its January 2025 high of 287.88. Based on my wave count, the correction appears to be complete, with a potential low established at 177.05.
A sustained move above 188.50 would confirm emerging strength, initially targeting 194.60. Such a move would reinforce the bullish reversal structure, setting the stage for a minimum upside towards 206.30, with the potential to extend to 226.
Traders should closely monitor price action above 188.50, particularly on expanding volume, as this would provide a strong buy signal for further upside.
Engrohafter posting a bottom engroh is moving upside NOW, Long entry is recommended from this point.
Different Patterns on Different Time FramesCup & Handle Pattern formation on Monthly TF.
H&S pattern on Daily TF.
S1 around 192 - 193
S2 around 183 - 185
Worst Case scanerio Support around 150.
Should not break 130 - 135.
Upside Targets can be around :
Immediate Resistance around 234 -235
Short to Medium Term : 250 - 270
ABCD Pattern Target around 300
ENGROH, 1DCurrently stock in down trend most probability bonce back from 160-170. could be good buying zoon.
