karan_bagri

AMARAJA BATTERY | Risky Long Setup

Long
NSE:AMARAJABAT   None
Unusual pullback after a long term downtrend in stock indicating weakness in present trend. Momentum of counter trend pullback is stronger than usual with MACD making fresh high since the last 9 months period. Price is also trading in a Channel right now and bounce from lower levels is visible here. A long trade can be made here with strict "stoploss" of 678 or conservative traders can use break of channel as a stoploss. First target should be around 740 and second target is Channel's upper band.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.