AbhishekHSinghCMT

Amaraja Bat- Will it discharge between 1100-1130 zone

Short
AbhishekHSinghCMT Updated   
NSE:AMARAJABAT   AMARA RAJA BATTERI
9
Since Aug2015 Highs@1128 -it has been moving into a complex corrective pattern which could be cup & handle pattern as per traditional analysis- this cup could complete going above 1080 mark -can make a small move up in the zone 1100-1130- It that zone holds & battery gets discharged in the desired zone, then going back below 973-likely we will see sizeable fall- what will be the fall & duration- telling this will be tough at the moment but one should keep eye on these key levels.

Alternate Strategy
If it fails to go beyond 1080 & leaks below 973 then likely will indicate weakness in the battery.
Trade active:
15:06 Hrs 10th Dec2016

Last Price@927

Below 973- It pushed down till 841 lows

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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