ENGINEERS INDIA :
CMP : 152.50
View: Exit/avoid
investments, buy put calls, sell futures
Become member for
complete strategy and timing.
As you can see in the
chart, the monthly chart is not looking very good, the price to earnings ratio
is also high around 25 for a public sector company which is not guzzling cash
or in more or less infrastructure related businesses. Now election coming up
next, such PSUs with macro businesses are going to get discounted little by
little.
There is support
around 145 levels, from which it might bounce back. But we believe ultimately
it may go and test the major moving averages which are way down from current
levels. And any correction in broader markets or sideways consolidating markets
with dampened investor mood can also make it slide slowly to those levels.
For
best services for traders and investors in Indian stock market for multibagger
stock calls and intraday stock, nifty, stock futures, options trading calls
visit our website www.meghacapital.in
