FourSTechnicalAnalysis

BALKRISIND POSITIONAL VIEW BASIS PRICE ACTION

Short
NSE:BALKRISIND1!   BALKRISHNA INDS FUTURES
NSE:BALKRISIND

  • Fake Out followed by Huge selling seen on 9 Feb
  • The resistance zone is shifting lower indicating higher presence of sellers
  • The Trendline is the first line of defence followed by the last support in the range of 1509-1529
  • TWO Possible trading setup's basis the trading style
    A]Breakdown or breakdown and retest of support turned resistance (1509-1529) would trigger SELL
    B] Breakdown of Trendline and/or Retest of Trendline
  • Stop Loss would be above 1653
  • Targets as indicated in Charts


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