AMARA RAJA BATTERIES LTD - POSITIONAL BUY ABOVE 520AMARA RAJA BATTERIES LTD - POSITIONAL
BUY ABOVE 520 STOP LOSS 479
TARGET 534, 551, 584
Posting for Educational purpose only
Closing Basis means stock need to trade above 520 between 3:25 ~ 3.30 PM (Daily candle close > 520)
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Amara
#SELL AMARAJABAT BELOW 756INTRADAY TRADE (TRADE FOR TOMORROW | NOVEMBER 13th)
#SELL AMARAJABAT BELOW 756
Amara Raja Batteries Chart setup Amara Raja Batteries
CMP 772.50
Observations
- The stock has been in down trend channel (red colour) since Aug 2015
- Since Nov 2017 we observe the stock being able to manage to trade in minor blue uptrend channel
Based on the observations Important levels for the stock
- 728-707 is an important zone which needs to be protected
- the potential on the upside initially is around 940-960 zone
- time frame (could be) mid December to early January
Setup provides good risk::reward ratio at CMP and on any further dips
Take care and safe trading...!!!
You can look at Previous coverage on the Amara Raja Batteries below along with ideas on few other stock / indices
AMARA RAJA BATTERY SHORTSell Amara Raja battery around 800
Target price 775
Strictly positional basis target
Trade as per risk appetite
Happy Trading
