Balkrishna Ind. - Bearish RSI Divergence
#Balkrishna Industries tested 0.618 Fib today and resting there... Need to see if crosses the trendline and 0.5 ratio.
Watch for the 0.618 or current levels for reversal in Balkrishna to go Long
1414 to 1483 almost 5% More above 1483 as BO given with good colume hold with SL of 1290 closing basis
Expect around 1360 in coming week after failed HNS pattern. See previous idea to see the pattern. Link for previous idea below. Regards
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Balkrishna Industries may taste levels around 1355-60 in short term
Balkrisind a. Zone: Weak Bear b. Resistance 1: 1478 c. Resistance 2: 1506.55 d. Support 1: 1435.10 e. Support 2: 1342.30 NSE:BALKRISIND
1. Inv H&S Tgt - RED (1631.70) 2. Flag Pole Tgt - Purple (1706.40) Two Patterns in a single chart at Day Time Frame Those Holding, Hold with 1375 SL (DCB) ONLY STUDY PURPOSE VIEWS ARE PERSONAL NSE:BALKRISIND
REFER CHART . CONNECT ME @financestox for queries
A BUY SETUP FOUND ON BALKRISHNA BALKRISHNA , A FUNDAMENTALLY SOUND STOCK FOR MEDIUM AND SHORT TERM RETURNS WEEKLY RESISTANCE BREAK OUT DONE AND RETESTED IN DAILY CHART FRAME . A BUY FROM HERE FOR PHENOMINAL RETURN CAN BE EXPECTED . TAKE CALL ON YOUR OWN RISK
If the scrip takes support around current levels, it might push towards 1515 and 1554 levels. Rest you can see it on the chart. Regards
All idea for trading is shown in the chart
Head & Shoulder Formed in Balkrishna Ind. very good long position opportunity buy @ 1480 to 1500, stop loss- 1280, Target 1 - 1595 and Target 2 - 1789. (only for education purpose and demo trading)
Good Move is BO above 1414 weak below 1210
Buy at 1450 and 1400 Target 1700 Disc : I am already invested in stock. Please do your research before taking a trade based on published information.