BALMER LAWRIE - Breakout in Monthly timeframe after 25 years. The breakout came with huge volumes which indicates a good sign. The company has very strong fundamentals and has a huge upside potential.
#BALMLAWRIE trading above Resistance of 280
Next Resistance is at 411
Support is at 172
Here is previous chart:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose...
#BALMLAWRIE trading above Resistance of 172
Next Resistance is at 280
Support is at 148
Here is previous chart:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only....
#BALMLAWRIE
CMP :267.1
Date :19-01-2024
A Govt of India undertaking. Almost nil debt company.ROA , ROE , ROCE improving. Profit margin also improving qoQ & YoY.Now at 52 week high with significant volumes.Already made a round bottom aged 6 years breakout and retesting . Technically looking good now. Stoploss @ ₹.220/-
Disclaimer : Post only for educational...
Balmer Lawrie is attempting a breakout from Symmetrical Triangle pattern on 1D & 1W timeframe. Enter on bullish candle closing above the trendline. Please be wary of 'EARNINGS RISK'. Earnings are expected to release around 7th Aug '23. However, Risk Reward Ratio is very good.
BALMLAWRIE:- Stock has given breakout of trendline, and has given breakout almost after 2 years, keep your eye on the stock
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my...
Long term VCP breakout
Along with inside bar breakout
Though volumes are not exactly as expected
Will be better to keep position size low at current levels and increase on confirmation
