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Engineers India Stock with 12% Upside Potential | Stock Pick

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Engineers India, a leader in turnkey projects and consultancy services, has been recommended by the Bajaj Broking Research Desk under our Alpha Trade recommendation. With a buying range of ₹210-214, a target of ₹238, and a 12% upside over a 35-day duration, this stock presents a great opportunity for investors looking for short-term gains.

Key Trade Details

  • Buying Range: ₹210-214
  • Target: ₹238
  • Stop Loss: ₹199
  • Upside: 12%
  • Duration: 35 Days

Fundamental Outlook

Engineers India is well-positioned for growth, driven by its diversified project capabilities and consultancy services. The company’s consultancy segment is expected to flourish due to:

  • Robust Order Pipeline: Engineers India is receiving strong orders from both domestic and international markets, particularly from South America, the Middle East, and Africa.
  • Sector Expansion: The company is diversifying into high-growth sectors like green hydrogen, biofuels, coal gasification, and defence, which is likely to boost profitability.
  • International Focus: Engineers India’s expansion into emerging markets underscores its potential for increased revenue streams, further enhancing its global presence.

Technical Outlook

Technically, the stock is showing strong buy signals:

  • Key Support Levels: The stock has shown buying demand around the ₹202-210 level, aligning with the 200-day Exponential Moving Average (EMA), making this an optimal entry point.
  • Bullish Indicators: A buy signal from the daily stochastic oscillator further supports the likelihood of upward momentum. The stock is expected to reach ₹238, marking a 12% gain.

Conclusion

Engineers India’s strong fundamentals, coupled with a favourable technical setup, make this Alpha Trade recommendation a great opportunity for investors. With an attractive buying range of ₹210-214, a target of ₹238, and a stop loss at ₹199, the stock offers a potential 12% upside within a 35-day window.

Note: The figures are as of 1:49 PM, 23rd September 2024. For more details about this recommendation, you can check out this report by Bajaj Broking Research Desk.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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