Balasore Monthly candles above 70 looks good (# outside down pattern beginning). Also wait till RSI gets above 70 Levels & MACD makes new high, One can add Faster MACD of 5.8.3 for new highs or at least 3 yr highs before the entry. BUY Only above 70 with stop of 50.
Monthly chart of balasore alloys shows the formation of rounding bottom. When the rounding bottom formation completes, upside movement will be fast. Volume is high at this stage of completion indicates investors are accumulating. When the price closes above 77, it will move towards 90.110 and 125. I expect this movement in one to two years.
Balasore Alloys Ltd. engages in the manufacturing and mining of ferro alloys. It focuses on the extraction of chrome ore from its captive mines located in Odisha. It also manufactures and sells ferro chrome of various grades. The company was founded by M.L. Mittal on May 31, 1984 and is headquartered in Kolkata, India.
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