The short-term outlook is bullish for Elecon Engineering Company. The stock has been in a good uptrend since April. The rise on Monday has taken the share price well above a key intermediate resistance level of ₹545.

It also indicates that the upmove could be gaining momentum. Moving average crossovers on the daily chart also strengthens the bullish case.

Short-term supports are at ₹545 and ₹520. Elecon Engineering Company share price can rise to ₹625 in the coming weeks.

Traders can buy Elecon Engineering Company shares now at ₹560. Accumulate on dips a ₹548. Keep the stop-loss at ₹518 initially.

Trail the stop-loss up to ₹568 as soon as the stock goes up to ₹575. Revise the stop-loss higher to ₹580 and ₹598 when the price touches ₹592 and ₹610 respectively. Exit the long positions at ₹620.

Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)

Published on June 16, 2026