The channel is a powerful yet often overlooked chart pattern and combines several forms of technical analysis to provide traders with potential points for entering and exiting trades, as well as controlling risk. The first step is to learn how to identify channels. The next steps include determining where and when to enter a trade, where to place stop-loss orders,...
BALKRISHNA INDUSTRIES
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Falling wedge Pattern .
✅ Strong Bullsih Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 2430+.
✅Can Go Long in this stock by placing a stop loss below 2345-.
Buy Balkrishna Industries above 2372, Target 1 = 2400, Target 2 = 2446 SL = 2240. Reason for trade, price has taken support above previous swing high (see the green line price 2312.10) and has formed bullish outside reversal candle which is bigger than average candle size. if price starts treding above previous day high then target 1 and target 2 is...
Balkrishna Industries long indications from charts.
Breaking the resistance levels. Need to check on the volume that is incoming in this. Ending the downward channel resistance levels. Track the retracement levels.
Can reach initial levels of 2450 and if sustaings can reach levels of 2800.
No recommendation, justy view based on chart.
The Stocks is giving a breakout on an Hourly timeframe and a weekly timeframe.
One can wait and watch the stock tomorrow i.e. 23rd and plan the trade accordingly with a 1:2,1:3 risk-reward ratio respectively.
Note: This idea is for education purpose only.
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Balkrishan can be good trade once BO the TL. First target near 2350. Also if stock successfully BO the resistance area then the level of 2500 can be seen in coming days. This is for your educational purpose only.
BALKRISHNA INDUSTRIES is looking good for a swing trade above levels of 2230(weekly candle breakout and retest) for targets of 2400/2600/2700 and sky is open above all time highs for bigger targets , a series of higher lows showing buyers coming and need a breakout above 2230 for a possible trend change towards upside , RR looks favourable
The stock fundamentals are good but that doesn't mean that you should buy now
Stock could fall till 1300 in coming 2 years
Then buying opportunities will be there
Thanks
Balkrishna Swing trade ideas to take long entry between 2185 and 2210 SL 2175 for the target price of 2250-2275. RSI on monthly and weekly trying to cross 60 levels. on daily 40-level support by RSI. Good bullish sign. Stock able to cross 50 & 200 moving average. Trade with less quantity with strict stop loss. Very hard to find good trade in these scenarios but...
As Per Elliott wave theory NSE:BALKRISIND looks bearish for short time, formed channel in wave C expecting minute Wave 5 will reach till fibo ratio 0.786 or 1688, and possibly reverse. if price goes beyond the invalid line or breaks channel upward then markings need to recheck.
Risk management is Imp, use stop loss, Happy trading.
Idea: Given the current market conditions one can initiate short in Balkris ind. For the current expiry one can buy 2100 PE at Rs 20-22 with target of 50 and SL of Rs 7.
Once 2050 is broken decisively (earlier demand zone) target 1 and target 2 would be possible in Sep series.
Basis: It has broken the trend line on the lower side and given the bearish conditions...
Balkrishna inds at a crucial level of 2150 if the selling pressure continue a downtrend is expected so wait for level of 2140 & if it retest the level of 2150 selling will continue , trade at your own risk am not encouraging anyone
Balkrishna Industries has given a trendline breakout, volume is also good.
RSI is almost at 70 which is a positive sign.
CMP - 2349
T1 - 2500
T2 - 2700
Keep 1:1 SL @ 2200
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