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Thursday, 22 June 2017

My Portfolio: Stock 4: Bought Elecon Engineering on Fundamental basis

Hi, Bought ELECON: Elecon Engineering Company Ltd, 50 shares @ 60.6,  for Investment purpose, So total value approx 3000 rupees or 3K

Will add more next month or as per chart.

This I bought on Fundamental basis and entry  made on technical basis.

That's Y i am posting this on "Fundamentals" section

 About Company:



Elecon Engineering Company Limited is an Indian company specialized in the manufacture of industrial equipments. Elecon is one of the largest Asian manufacturer of material handling equipment, industrial gear systems and mining equipment

For More Details follow the Link: https://www.elecon.com/

So what exact fundamentals I seen? Here given below ...!

Nothing , This I taken on the recommendation of Mr. Mahesh kaushik on his blog. Lets see the fundamentals on his blog itself

Elecon eng. Recommendattion By Mahesh Sir

Fundamentals quite satisfying right?

Technicals: 

In Day charts, It took Support from trend line and bounced back, Lets see the chart below



You can See the price taking support @ Fibonacci level and Trend line, so if markets remain positive it may take bonce from here else, it will see the downtrend and may take support at next level at 56. So its a 50-50 way to buy at this time and if down trend continue more qty can be added at further levels.

Conclusion:  Point to remember

1. The selection is on fundamental basis not on technical basis
2. Only technicals used to time the entry
3. Bought 30% qty only, will be added more on future scenarios
4. No SL as this is fundamental call and will be added more on dips
5. Positions will be closed only when there is change in company policy or fundamentals or at enough profit


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