Evening Star Formation in Balkrishna industries on daily TF Short

BALKRISHNA INDSNSE

Description

⋅ May 16, 2021 3:39 PM

The scrip has been on uptrend for quite some time now. It has recently taken rejection from 1965 levels and we can see a downtrend in days to come.

Trade closed: stop reached

⋅ May 17, 2021 7:06 AM

Comments

deadeye06

⋅ May 16, 2021 4:03 PM

Thanks for the info !!!

I too had the belief that Balkrishna wl fall in the coming days...
After going through this chart, I am pretty comfident abt my trade now..

Thanks buddy !!!

anaconda_619

⋅ May 16, 2021 6:16 PM

@deadeye06, I would prefer to short it if it gives a closing below 1880 on a 15-min TF

deadeye06

⋅ May 17, 2021 4:55 AM

@anaconda_619,

Not sure if Balkrishna has seen the "Evening Star" but definitly it is showing me stars in the morning .

anaconda_619

⋅ May 17, 2021 4:56 AM

@deadeye06 haha. I feel you. That's why I had asked you to wait for it to close below 1880 on a 15 min candle before shorting.

gautam0607

⋅ May 16, 2021 4:07 PM

Great analysis !!!!!! But I am still bullish on Balkrishna .... Target : 2k

Operators played their part during Result day and brought down the share value ...

Based on their result on friday, i expect Bala to continue its bullish run

deadeye06

⋅ May 17, 2021 4:55 AM

@gautam0607,

Great day for you

sanchay081

⋅ May 19, 2021 9:19 AM

anybody long in this ? what would be the target ?

smartpowertechno

⋅ May 17, 2021 6:32 AM

is that best time to short this stock?

deadeye06

⋅ May 17, 2021 8:22 AM

@smartpowertechno,

Better not. You can short only If you feel that you have made enough money in your life.