Amaraja Batteries - Cup and Handle Cup and Handle in Making
Breakout above 710 on daily time frame
Supply zone : 800 - 1000
Support Zone : 590-610
Batterycar
Simple Trade Setup | EXIDE IND| 04-08-2021NSE:EXIDEIND
This stock is weak now. But today it entered in the critical zone which was working as a resistance as well as support from long time.
Also on daily time frame it closed below 400DMA which is act as good support for any stock.
Better to avoid trading in this stock and wait for firm break of either side of level.
Levels are marked on the charts.
Do comment your doubt or suggestion.
My personal view is to avoid trading in this stock.
Bullish Govt announces for opening of 69k charging point might hit market of electric vehicles and battery companies tommorw.as uk also going to adapt fully electric vehicles by 2030 so it would b very good time to invest in eletric vehicles and battery companies.tesla might enter in Indian markets .best time to invest
EXIDEIND - CHART SPEAKSPRICE HAS REACHED THE IMMEDIATE RESISTANCE, IF IT BREAKS, THERE IS GOOD CHANCE THAT THE BULLISH MOMENTUM WILL CONTINUE.
BUT SINCE AUTO SECTOR IS WEAK SINCE THEIR WAS A HUGE MOMENTUM IN THE PAST COUPLE OF DAYS, MAYBE THE STOCK WILL HAVE A CORRECTION. BUT USE THAT TOO AS A BUYING OPPERTUNITY AS "BUY AT DIPS" IS THE STRATEGY WHICH SHOULD BE FOLLOWED NOW.
IF YOU HAVE READ THE ABOVE STATEMENT, YOU HAVE SUCCESSFULLY BECAME MORE AWARE OF THE MARKET SINCE MOST DO NOT READ THESE STATEMENTS (AS THEY ARE SO BIG)
BEWARE OF FALSE BREAKOUTS
Look at the charts and make an informed decision.
Thank You
Happy Trading
Beware of risk involved in stock market and this is for educational purpose only.
