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Long

Amara Raja Batteries Chart setup

NSE:AMARAJABAT   AMARA RAJA BATTERI
Amara Raja Batteries
CMP 772.50

Observations

- The stock has been in down trend channel (red colour) since Aug 2015

- Since Nov 2017 we observe the stock being able to manage to trade in minor blue uptrend channel

Based on the observations Important levels for the stock

- 728-707 is an important zone which needs to be protected

- the potential on the upside initially is around 940-960 zone

- time frame (could be) mid December to early January

Setup provides good risk::reward ratio at CMP and on any further dips

Take care and safe trading...!!!

You can look at Previous coverage on the Amara Raja Batteries below along with ideas on few other stock / indices

Comments

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