Hello Everyone, Happy New Year to you one and all here and as you can see here how this rounding bottom when ended took support of the previous gap and tried to push itself up also have you found it before me or not tell me in the comments and make sure to follow and like bye
AMARA 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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As clearly seen on the Chart. NSE:AMARAJABAT has crossed neckline of W pattern or you can say double bottom pattern. If it give positive closing today above neckline. then we can go long, All the targets are mentioned in the chart.
Note : For Educational Purpose only.
This is the Daily chart of Amara Raja Batteries.
The price has given a breakout after a pull back.
Reason for entry :
Weekly chart good Market Structure
Has taken a pullback and given BO
Below the BO Candle or below the Swing low
Before taking any trade I always analyze the trend, price, volume, and how the relative strength is performing compared to other stocks in that sector.
Here are a few observations that we can make from the AMARAJABAT chart:
Flag Pattern upside breakout(bullish)
The stock broke a long trend line and consolidated for a month.
It has given a range breakout...
Amara Raja Batteries Ltd (AMAR) strong breakout @ daily time frame.
NEWS:Next Big Bet: Battery Maker Rallies 4%, Clears Hurdle for Next Move!
Amara Raja Batteries strong breakout with volume break out and momentum created in day chart.
Amara Raja Batteries breakout for long. so strong upside are coming. BUY above 541
NEXT TARGET 553,565,590. Time to go for long,...
Trend Line Break
First Higher Low Made
Extremely High Volume Breakout
Expect a small consolidation or pullback
Wait for Confirmation and a followup
Sl anywhere below 490
Entry near 515-525
1st Tgt 580
2nd Tgt 665
Short Term Pick :
This stock has underperformed index in last couple of years and technically it looks that it has made a bottom in last 2 months of consolidation. Upper side Targets are close to 650 levels in 1-2 months
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Attached below few Related Ideas posted under my...
Long amar raja stock after the BO of resistance area shown in the charts @ 495 for the target price of 535-540 with SL of 480. RSI shows strength. Trade accordingly. Good risk to reward setup. This is for your educational purpose only.
Amarajabattery is making a Triple top on 15 min TF. It is great opportunity for Intraday players. We Can sell this after Break down when price shows rejection below 499 We can take small Sl of 502 with the target of T1-496, T2-492.