Laxmi Energy & Food: Going, going, gone ?

LAKSHMI ENERGY & FOODS Daily NSE Stock Chart Technical Analysis:


Lakshmi Energy & Foods remained range bound in a very teeny-weeny range.  The price has closed near 67 for the 4th consecutive day with almost nil movement during the day.

Market Outlook:

• Bleak.  There seems no interest in taking the stock up even at this level.  Still no demand after the price has dipped to near its all time low.  
• Closing above 69 may be a recovery for this stock

Technical Indicators:

• There is a long term line of diagonal support which is helping the stock at this moment.
• The horizontal support is available at 69, but the stock has closed below this price for the past 6 days.
• There is no demand even at this low price.
• Going by the historical movement of Lakshmi Energy & Food, the volume suddenly jumps taking the price higher.  So watch for a sudden rise in trading volume and breakout above 69.  If this happens, go long with sell off withing 2-3 days.

LAKSHMI ENERGY & FOODS Daily NSE Stock Chart Technical Analysis