Introduction:
Bharat Wire Ropes Ltd. engages in the manufacture and sale of steel wire ropes, wire strands, and wire rope slings. Its products include different types of ropes including general purpose ropes, fishing, crane, structural, elevator, mining, oil and gas, and shipping ropes. It also offers mechanically spliced and hand spliced...
Stock Name - Bharat Wire Ropes Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 182
#This is not Buy and Sell recommendation to any one. This is for...
Stock Name - Bharat Wire Ropes Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 144
#This is not Buy and Sell recommendation to any one. This is for...
Engaged in the manufacturing of various types of wires and ropes. Fundamentally not strong. Now under the surveilance of multiple resistance zone. Low promoter holding and high pledge is one of the most important concern. Profit is improving . Expecting a short term run
Bullish view on Bharat wire and Ropes
CMP:- 112.50
SL:- 108
Target :- 118
Technicals
RSI 64 on Daily time frame
Taking support of Horizontal trendline, which was acting as resistance previously (from August 2021 till august 2022) stock went up till 138 and then corrected taking support of fibonacci level.
Stock is trading above both 50 SMA as well as 200...
Buy Bharat Wire Ropes: Consolidation done after breakout and a next bullish candle formed showing stock is ready for the next upward move.
RSI: 59.06 Bulls territory
Consolidation after breakout
Taking support at 20 SMA
Highest delievery volume since 8th Sept
CMP 121.80
SL: 110
Target: 135
Note: company is not doing good fundamentally. NSE:BHARATWIRE
