Balaji Amines appears to be in a strong accumulation zone after an extended downtrend. The stock has been consolidating between ₹1,350–₹1,450, forming a solid base supported by stable volumes. A sustained move above this range could mark the beginning of a trend reversal and initiate a fresh leg toward the upper resistance levels.
The recent earnings announcement may act as a potential catalyst, as the stock shows early signs of momentum supported by short-term moving average crossovers.
🎯 Key Levels:
CMP: ₹1,431.80 (+1.93%)
Accumulation Zone: ₹1,350 – ₹1,450
Resistance 1: ₹1,650 – ₹1,700
Resistance 2: ₹1,900 – ₹1,950
Stop-Loss: ₹1,340 (on daily close basis)
📊 Technical View:
Price consolidating near the base zone post-correction, signaling accumulation.
Volume stability and EMA alignment suggest early buying interest.
A breakout above ₹1,450 could trigger a move toward ₹1,700.
Sustaining above ₹1,700 may open the next leg toward ₹1,950+.
🧠 View:
Balaji Amines is forming a base after prolonged correction. A close above ₹1,450 with volume confirmation can trigger momentum toward ₹1,700 in the short term, and ₹1,950 in the medium term.
The recent earnings announcement may act as a potential catalyst, as the stock shows early signs of momentum supported by short-term moving average crossovers.
🎯 Key Levels:
CMP: ₹1,431.80 (+1.93%)
Accumulation Zone: ₹1,350 – ₹1,450
Resistance 1: ₹1,650 – ₹1,700
Resistance 2: ₹1,900 – ₹1,950
Stop-Loss: ₹1,340 (on daily close basis)
📊 Technical View:
Price consolidating near the base zone post-correction, signaling accumulation.
Volume stability and EMA alignment suggest early buying interest.
A breakout above ₹1,450 could trigger a move toward ₹1,700.
Sustaining above ₹1,700 may open the next leg toward ₹1,950+.
🧠 View:
Balaji Amines is forming a base after prolonged correction. A close above ₹1,450 with volume confirmation can trigger momentum toward ₹1,700 in the short term, and ₹1,950 in the medium term.
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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.
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.