Overall Technical outlook

Price Summary

On 2025-05-29, Elgi Equipments Limited's stock started at 508.1, soared to 518.0, dropped to 492.0, and finished the day -1.77% lower at 499.1, with a trading volume of 1331022 shares.
During the 52-week span, the stock hit a high of 769.2 and a low of 402.2.
ELGIEQUIP's future price is expected to lie between 436.0 and 710.0, with an average expectation of 588.25, as per the recommendations of 4 analysts.

Technicals

Support and Resistance: The current price sits at 499.1, supported at 490.8 and capped by resistance at 522.6. These levels define a range for ELGIEQUIP where the price might stabilize, with 490.8 as a floor and 522.6 as a ceiling.
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Support/Resistance for ELGIEQUIP


Aroon: The bullish trend in Aroon continues for ELGIEQUIP, with Aroon Up maintaining its position at the 100 level. This suggests sustained upward momentum, but further analysis is needed, especially in combination with other indicators, to confirm the trend's future prospects.
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Aroon chart for Elgi Equipments Limited


Bol. Bands: The price crossing under the upper Bollinger Band indicates a possible downward movement. This signal may suggest that the asset is losing bullish momentum and is overbought, leading to a potential correction. Traders often view this as a warning of an impending reversal, making it a critical time to consider potential adjustments to trading positions.
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Bolinger Bands chart for Elgi Equipments Limited


Parabolic SAR: The PSAR continues to signal a bullish outlook, establishing a key support level that reinforces the market's upward momentum. This support could serve as a base for continued gains, suggesting that the bullish trend is likely to persist.
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Parabolic Stop and Reverse chart for Elgi Equipments Limited


Stochastic: The stochastic indicator for ELGIEQUIP reflects the K-line moving below the D-line, though it stays above 80, hinting at the potential beginning of a bearish price move. This setup suggests that the market's strength may be diminishing, with a possible downturn ahead. Traders should be on alert for further bearish confirmation.
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Stochastic chart for Elgi Equipments Limited


Tripple Moving Agerage: The Tripple MOVING AVG is showing a neutral reading, with no clear direction indicated for upward or downward movement. This neutral position suggests a possible period of consolidation.
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Tripple SMA chart for Elgi Equipments Limited


To make the most of a company's technical analysis, it's important to start with an understanding of its fundamentals. These include profitability, cash flow, and competitive positioning. Additionally, the industry in which the company operates plays a critical role, as trends and external factors can influence its market performance. By considering both the company's internal fundamentals and the external industry environment, more meaningful and accurate conclusions can be drawn from the technical data.