Balrampur Chini : Expecting Bounce backWith market back in strength
expecting a bounce back from 580-85 levels
View negated below 570
RR looks promising
Currently in HH-HL
Waiting for entry candle
Balramchini
Balrampur chini Trendline breakdownSimilar to Tata Steel, Balrampur Chini has given an Inclined trendline breakdown. If this bearish moment continues 362-366 will act as the strong support zone.
The view is just the education purposes.
Simple Trade Setup | BALRAMPUR CHINI | 27-01-2022 [INTRADAY]NSE:BALRAMCHIN
Observations:
1) On 1 day time frame, we can see it is between support and resistance range.
Please refer below chart : 1day Time Frame.
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Trade Setup for 27-01-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Balrampur Chini "Range Breakout"Buy At Cmp 212.6
Add More If Price Fall To 185-190
Strict SL - 155 (WCB)
Target - 400
Balramchin Long term BUYBalramchin long term HOLD
if break support line exit, very good risk reward ratio
