Buy this counter at current level. It will bounce back in very short term. Targets and SL shown as per the chart.
This stock can be a multibagger on a long run.
I believe Amara Raja Battery is completed with breakout confirmation .
After or during Jun Results around 2nd week of August we would see a good momentum build up to Go LONG
Wait for Confirmation around 700. Once Volume builds up.
GO LONG --> Long Term Bullish.
Risk Always within your appetite only!
Buy @700
Target 730, 770+
SL - <670 (It should be a day closing)
1st Line is a monthly chart resistance which act as support
2nd Line is daily chart support
Profit making in AMAR RAJA in 8 days
buy ce 1 lot 720 @5
sell ce1 lot @ 750@ 6
diff=1 lot=1000 rs.
3 lot =3000 Rs.
margin only 3lac
loss karke batao
open for discussion
mcpriceaction available everywhere for help
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
EXPLANATION : This is a 4 hour time frame chart of AMARAJABAT . The stock has been in a healthy downtrend for months and has formed an Inverted head & shoulders pattern . The stock gave a strong breakout and broke its supply zone with volumes and has retest the same , I am bullish on AMARAJABAT . Best buying opportunity can be near the retest area .
AMARAJABAT Share has near to BREAKOUT around 740.
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Multiple times share tested the 740 level if it breaks, we can see the good upward momentum.
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Our short term target is 760.
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What's your view on this comment below in the box.
In daily timeframe, AMARAJABAT showing the breakout of downtrend channel. After this breakout if this stock sustain above 720 level then expected 825+ target in upcoming few trading session. Can go long above 720 with nearest stop loss of 690 for target of 755,790 and 825+ targets.
This stock makes a very good channel pattern. And importantly the retest was also completed, let's see how it will perform. We can look for a good risk-reward ratio here.
![AMARAJABAT: [Short Term] Downtrend Channel Breakout in AMARAJABAT](https://s3.tradingview.com/a/auzBpLcj_mid.png "[Short Term] Downtrend Channel Breakout in AMARAJABAT")
