$BalmerLawrie is engaged in the business of Industrial Packaging, Greases & Lubricants, Leather Chemicals, Logistic Services and Infrastructure, Refinery & Oil Field and Travel & Vacation Services in India.
It is a central public-sector undertaking
Technically chart is showing a formation of Inverted Head and Shoulder formation and now it has crossed the...
Hi,
A Bullish flag and Pole pattern is emerging on the weekly chart of NSE:BALMLAWRIE Volume and price breakout both are confrimed.
All the details are mentioned on the charts.
Exit the position if the stop loss is triggered on WCB.
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Balmer Lawrie long view
Near the resistance levels of 148. if it crosses decisively with good volumes then can see for 168-188 - 209 levels in near term. Strong base at 104 levels. Had been in consolidation phase for longer time now nearing the breakout levels.
No recommendation, just my view based on chart pattern
Balmer Lawrie & Company Ltd - 31.12.2021
The stock is trading @ 121.90 levels
There was a Hammer @ Support in weekly chart
There is a MACD Bullish Divergence in Weekly chart
The prices are at EMA
There is a Resistance @ 124 levels
Watch out for the price actions
Balmer & Lawrie is in critical trendline support region. It can move upto 160 in upcoming weeks.
Its good for Short term Investment or positional traders. Additionally, the Corporate has announced Rs 6 per share dividend can lift the stock price till the Ex dividend date (17 Sep). Its good to hold the stock until it breaks the Trendline on downside.
Kindly share...
This is follow-up on Balmer Lawrie. Can check link to related ideas.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart. Trade is ON.
Disclaimer: This is for demonstration and educational purpose only.
