TECHNICAL ANALYSIS OF BALKRISHNA INDUSTRIES ON WEEKLY CHARTNSE:BALKRISIND
Trading Strategy based on Yearly floor pivots and price pattern on weekly chart.
Go long if and only if price comes back above the channel trendline as illustrated on the chart
Yearly Central Pivot Range for (2022) is 2120 - 2251.
A close above 2251 and the upper trendline channel on weekly basis is a sign of long entry
Stop loss should be below 2120 , below the yearly central pivot range
Target 2859 yearly pivot resistance R1
Search in ideas for "BALKRISHNA INDUSTRIES"
BALKRISIND - Ichimoku Bullish Breakout Stock Name - Balkrishna Industries 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 price
and more bullishness AFTER crossing 2450.
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
# Cloud Trading
# Ichimoku Cloud
# Ichimoku Followers
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BALKRISIND is Making Symmetrical Triangle Pattern (Breakout TradBalkrishna Industries Limited : Tyre Manufacturing Company ( NSE:BALKRISIND ) is Making Symmetrical Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.50% of your target, you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already fixed in the chart pattern.
Thank you.
You always have to trade only by money management, position sizing, StopLoss trailing. This is the way to stay in profit.
Chart Published By Ravinder Sharma