One may enter above 134.50. It will have long upward move once it crosses 142.50
It has broken out descending 1/1 line and on the verge of crossing 4/1 ascending line. If it crosses 134.5 tomorrow on closing basis, we may see a level of 160 in short term, a level where there is resistance.
Disclaimer.. not an investing/trading recommendation
looks like btc has found some good support the the short term 1/1 gann, if we keep bouncing and break the 0.618 fib there at 6700 we can go to o.5 fib at 7200, where we also have the 2/1 down trend gann taken from the 20k top.
another move up here can take us to the gann-fib confluence indicated on the chart.
i have a 1.0 fib at the neck line which is acting as a strong resistance so an entry after it crosses the neck line is the best play here.
Disclaimer.. not an investing /trading recommendation invested..
Delay in greenfield expansion at the Kakinada facility and slower de-bottlenecking at the existing Hyderabad and Vizag facilities are some lingering issues that are unlikely to get sorted out anytime soon.. Serious doubt about any topline growth possibility to write home about... although with the lifting of import alert for Vizag and recent clearance...
BLS international- After coming back on the growth visibility with a new UK contract which is the largest of all the contracts win by the company till date, and the punjab woes kind of soothed after the news that the punjab gov has allocated the receivables due to bls in the yearly budget and of that 30cr has already come in april… the correction i was waiting...
Disclaimer... invested... Not an investing/trading recommendation
The triangle formation with dozi may be the indication of imminent breakout this week or early next week. 140-142 may turn out to be a good entry point, as was earlier assumed.
It is going away from the descending line. Has to close above 133.50 for return of bullishness
If in green fresh entry may be contemplated. (Please ignore the red lines.)
If tomorrow the stock manages to crosses the resistance and closes above 1331, it will be out of 31 day bearish shadow.
Disclaimer.. not invested.. not an investing/trading recommendation
Good company to invest for short term/long term.