Amara Raja Batteries view

Amara Raja Batteries
Last closing Price 690.55


- In downtrend since May 2017

- RSI in Oversold region

- Channel support around 674

- Inverted umbrella (also known as gravestone doji ) observed in prevailing down trend with high volumes


Risk to reward ratio looks good to go long with

Target around 760 &

Stop loss of 674

Take care & safe trading...!!!



You need to join 3 Bottoms or Tops to draw the trend line. Which isn’t the case here! Please correct the chart, it’s not trend line support.
@RJBalaZ, Dear sir,

- The trend is down since May 2017 & joining 3 tops has been adhered to...

- We never said that stock is near trend support... rather it is near channel support which is derived by drawing a parallel line to the trend from 1st important reversal point...

- and the target we are looking at is trend line resistance level

- hope we are able to answer your query

Regards & best wishes


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