has hit 52 week high on 11th feb
closed above 100 sma
three outside up candle formation on daily chart - bullish reversal
weekly adx above 30 - bullish trend
NEXT TARGET - 300
reference chart with entry level below
Please wait for the following price action before entering :-
1) Wait till the price takes support at the 100 DMA
2) Followed a strong rejection candle like the bullish umbrella
3) a strong close above the 100 DMA
Please wait till all the above mentioned price action is occured before taking up the trade. And keep a strict stoploss...
BALKRISHIND good upward breakout from downtrend channel.
No doubt it will break the 50 sma and it will rally to 100 sma but 100 sma is a strong resistance for balkrishind because previously twice 100 sma has rejected the price from going up.
target 915-920; sl 805