Budget Analysis: Mother of Bull Markets Coming... The Government has managed to keep the fiscal math under control. More capex, less borrowing, reduced revenue deficit - all make up for a sound platform on which the economic development can take off.
As and when the global economy picks up and India gets a ratings upgrade, expect yields to cool down even more and equity markets to shoot through the roof.
If you can't read this from yesterday's budget, you are losing on a giant of an opportunity.
Unionbudget2024
BIRLACABLE - DAY CHART TURNAROUND SOON...NSE:BIRLACABLE CHART ANALYSIS 🧐
Time frame - Day chart
🔹Trend: Correction Downtrend is in effect with low volume fall.
🔹 The last swing low made is insignificant and formed a double bottom structure, with a small RSI divergence.
🔹View: Breakout of a trendline and horizontal range around 263+ can trigger a change in trend, from down to fresh up trend.
Promoter holding is increasing cause it had a slow correction phase for a while now and it hit the major trendline support zone so that will be a high probability setup for a potential up move.
🟢Entry: 30 min close above 263+
♦️Risk:- 230 on weekly candle closing below.
🎯Targets :- 290,350+
Use position sizing and follow your money management rules too.
Detailed analysis on chart, Study it and mark levels on your chart.