Amara Raja Batteries - Long
Very good reversal pattern. Good Stock in good price will attract any "investor". Its a right choice for short-term and also long term as well.
Buy : ₹ 681 - ₹ 703
Target: ₹ 741.3, 766.55,7.85.50
Support: 680, 661
Trade and Invest Wisely with your own knowledge! Good Luck!
You can also see my other stock analysis and the...
There was a bad news and the stock fell.
RSI in hourly charts and daily charts is in the oversold zone.
680 hasn't been broken in months.
Risk to reward ratio looks amazing.
Can buy wit stop below 680 for positional trade.
Amara Raja Batteries has been falling since its high of 1025 in Jan 2021. It is currently at its historical crucial support level of 710.
Next support is at 640. I will short this stock if there is volume support when it breaks 710 and enter at 705 when 710 is retested as resistance. My target will be 640 with 730 as SL.
RSI also takes resistance at 60...
This beautiful stock which has a great market demand (especially after EV bubble) has been brought down to a neckline which gets as low as corona level. The length it went up, its now back to ground zero. If you google, the reason for this fall was some pollution compliance issue, which I guess cannot be very long term. Promoters must get the error rectified and...
Amara Raja batteri is in its base of channel pattern and expected for reversal, so give an entry with appropriate Stop loss
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after...
***************IDEA NUMBER = 05********************
Stock has shown downside movement and taken support at current range, which shows that strong hands are entering and weak hands are going. So it's a stock which can give 30-40% returns in medium term horizon. It's not a overnight stock, it's a portfolio stock.
Targets are mentioned in the chart.
Bullish Bat visible in Amara Raja Batteries:
Entry can be taken at the current market price- 733
Important levels for targets:
Stop Loss can be kept at 700.
Note: Post only for education purposes.
Amararaja has corrected from 1024 to 760 (made head and shoulder pattern and broke down and achieved bearish target
Now the stock has made bullish divergence on daily chart and took support at 760 (it can be good closing basis stop loss) upside targets can be 828/865/925/965