Elin Electronics Limited

• 24 June, 2024 Ruchit Thakur

Elin Electronics Limited

Elin Electronics Limited appears to be a solid long-term investment, since the stock has broken through previous highs and is now climbing

Please check Elin Electronics Limited's weekly chart. As indicated in the chart, Elin Electronics is an excellent buying opportunity in the 194-196 range, and it has performed admirably thus far, with tremendous upside potential.

Please refer to Elin Electronics Limited's chart. Following its breakout from the 194-196 zone, the stock is now trading above horizontal resistance and steadily rising. Elin Electronics is now experiencing strong demand in the 194-196 range, as shown in the graph. The expected rise is 245-260, as shown in the chart below. 

• Elin Electronics is an outstanding long-term investment opportunity because it has shown a reasonable breakout between 194 and 196 and is currently on the increase.
• Elin Electronics appears to be in a favorable spot on the chart, with potential for further gains to 245 and 260 levels.
• As of now, 194-196 is the finest opportunity to acquire this company because the risk-reward ratio is optimal for a cash transaction.

Please see the Elin Electronics Limited weekly chart for reference. The weekly chart shows horizontal resistance and breakout, as well as demand in the 194-196 range, and the stock is rising after accounting for strong demand in the prior 195 range.

Please take note of the horizontal resistance and its breach, which resulted in the stock reaching a new high today, signaling an excellent chance to go long at the current market price. So far, the stock has followed the chart's upward trend, reaching 245 and 260, respectively.

Investors may seek a long-term buying opportunity in the 194-196 range and capitalize on any dips because the stock is in high demand, perhaps leading to a climb to 245 and 260 levels, showing a solid risk-reward ratio.

Investors could buy the stock with cash for a long period and set a stop loss at 175 to achieve price goals ranging from 245 to 260.

Elin Electronics Limited's weekly chart displays both support and resistance. The spot chart depicts each level.

Company Profile: Elin Electronics Ltd. is an ISO 9001-certified firm. It is the flagship company of the Elin Group, founded by the "Sethia" family. Elin was founded in 1969 in DELHI / NCR.

Elin provides a variety of goods and services to its OEM clients. Elin is a one-stop solution supplier for Electronic Manufacturing Services, Universal Motors and Induction Motors, Tool/Mold/Die Design and Manufacturing, Domestic Kitchen Appliances, Personal Care Products, Lighting Products, and Automotive Components.

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