Balrampur Chini is trading near it's demand zone and it has taken support from this zone multiple times. The risk reward looks good on the Long trade, Buy around 380 - 350 and hold for the target of 460 - 475 until 350 in intact on the closing basis.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
Balrampur Chini has multiple resistances @ 404 - 410 on hourly chart and expected to show a fall towards marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Similar 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.
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)...
![BALRAMCHIN: Simple Trade Setup | BALRAMPUR CHINI | 27-01-2022 [INTRADAY]](https://s3.tradingview.com/9/9F63nAW1_mid.png "Simple Trade Setup | BALRAMPUR CHINI | 27-01-2022 [INTRADAY]")
