BALAMINES
After downtrend it formed good base around 3000 Levels and gave a good volume breakout, Now its trying for Breakout Retest.
Buy for Target 1 : 4050 ( > 10%)
Buy for Target 2 : 4370 ( > 20%)
SL : 3400 WCB
Disclaimer: This stock idea is only for educational & research purposes and is in no way a professional stock recommendation. Please do your own...
Range breakout done
Keep sl of 3150 closing basis
for first target around 4000 and then ATH
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 adviser before taking any trade.
Balaji amines, on daily chart..RSI BO, Descending Triangle BO, Volumes for today were very good, strong closing, RSI is close to 60 good strength, Small resistance at 3600...weekly chart also looks good
I am sharing my trendlines in this chart so that you can take informed decision accordingly. Balaji is one of the 2 main listed amines company in India. The company is fundamentally very sound, however, I feel a sharp rise in stock price has lead to a sharper correction in this counter. The whole chemical pack is under pressure currently.
Balaji Amines has been an excellent small cap stock which had a fabulous rally. Its fundamental is also very strong and it is one among the leaders of the segment. The stock has been correcting 35% from top but keep in mind its a falling KNIFE. Hence there are no breakout yet and you can add to your portfolio ONLY if you are looking for LONG TERM (5+ Years).
NSE:BALAMINES is very good fundamental company.
after very big correction, right now Balaji amine is at very strong support and also making very convincing bullish engulfing.
one can add this stock to their portfolio for short term targets of 4472 and 5212, and a long term target of 15,000+
i am very bullish at balaji amines
Balaji Amines has taken support at good levels after a small correction that the stock witnessed. The stock can be added for further gains. The chart is self explanatory.
As we can see the stock is in correction mode, let it correct and complete its downside journey and buy in delivery when it reaches orange trendline but if it it closes above upper red trendline on candle close basis, then we can go long from there also.
good luck, Have patience in market it will always pay off
Bollinger bands squeeze can be seen in the chart, i have also marked a small triangle breakout in progress. can buy with the stoploss of lower band or the horizontal line as per your RR ratio. targets are marked on the screen.
Balaji Amines - Cmp 2785
Possible breakout re test candidate. The stock is retesting yesterday's breakout levels. Looks good for long with 2720 sl on clbs. Targets are marked on the chart.
Balaji Amines - Cmp 2711
Looks good to go long at cmp for initial target of 2900
Reason :
1. Trading near support area of 2600-2630
2. Favorable risk reward ratio
3. Hidden bullish divergence
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
