📈 Balkrishna Ind. 📉
My Findings :-
1. Breakout from a swing high and Resistance Zone.
2. Close above March high.
3. Higher High and Higher Low formation.
4. Auto Sector is in Uptrend.
Target- 2397, 2516 and 2692
RR- 1: 2.5
All Important Supports and Resistances are drawn in chart.
All levels are of Spot and on closing basis.
Only take position on above 1:5 RR ratio
Current Price : 1822
Take position at : breakout the triangle setup 1875
Max Target 40% ROI
Stop loss according your Psychology
Time period : 1 year
The stock was going up following a trend line and now at the verge of breaking the downside, looks good to sell if sustains below 2455 for the marked targets on chart until 2540 is intact on the upside.
To motivate us, Please like the idea If you agree with the analysis.
InvestPro India Team
LGB BROTHER CMP 559
stock is out performing currently top 5 of machinery and general industry msi sector group index.
recently on chart it has gave nice stage 2 breakout and recent 2 week candle are wide in range and having increased in volume flow.
***** 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 retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
On a 1hr timeframe it is showing a perfect formation of an ascending triangle pattern. Good to enter now @1630 For a target of approx 7.5% in shortterm with a stop loss just below the ascending trendline support.
Moreover, if you want to wait and you are not a risky trader then you should see it regularly and buy once if it gives you opportunity at the trendline....