A short trade in BALKRISIND BALKRISIND has reached supply zone in daily timeframe. A short trade around 2480 with SL of 2540 looks good as it has made back to back 10 green candles and now the momentum seems to slowing down after entering demand zone. Targets 2400,2360,2320. A bear put spread can also be used to enter this short trade if liquidity in option prices permits.
BALKRISIND trade ideas
Balkrishna Industries Long opportunityNSE:BALKRISIND
Hello all
Balkrishna industries has been traveling in a channel since March 2020. It came back to its lower trendline, took support, and took off. It broke the trendline 1 and its nearest resistance as well. All this makes it a good opportunity to go long!
Besides these points, there are a few more that strengthens my conviction to go long:
->Support from 50 day EMA
->Support from 50 weekly EMA
->Took support from 50%-61.8% Fib level
The Risk reward ratio is favorable. Also Nifty seems to have broken its major resistance and there is a high probability of Nifty going up from here.
*NOT A CALL*
Balkrishna Industries Positional View !BALKRISIND : cmp : 2323.4
A falling supply trendline breakout done near 2287-2300 zone.
Good base formed near 2180-2200 lvl . So downside limited.
Making higher highs for 3 days.
RSI & MFI trending up.
Accumulation zone : 2280-2320
profit booking zone may be 2417 - 2527
Sl 2276 Dclbs/According to your risk appetite.
Positional TGT 2800+
SL 2176 Dclbs
Disclaimer: Ideas for learning Only.
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BALKRISINDNSE:BALKRISIND
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BALKRISIND - Intraday and swingWhy this Trade..??
1. Bearish Gartley Pattern
Buy or Sell based on the Support Break with Volume
Disclaimer:This view is purely for educational purpose and it's my personal.Please consult your financial advisor before attempting any trade.We're not responsible for any loss or profits.
[POSITIONAL] BALKRISIND LONG BET risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Intraday Trade: watch for resistance breakoutbuy above 2242 in Intraday
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
Balkrishna Industries: 20% upsideDate: 09 Nov 2021
Balkrishna Industries (CMP: 2496.95)
Competitor of MRF. Company is going to declare results on 11 Nov as per filing with exchanges (2 days from now). Stock is making triangle pattern with perfect setup on RSI. Breakout will above 2550.
If they post good result then stock will go upto 3,000 (T1: 2700, T2: 2850, T3: 3000). One can dare to take entry in this largest tyre manufacturing company. Keep a stoploss at 2350. Return percentage is 17.64%. If you take entry at 2500 and stock hits final target of 3000 then perfect return of 20%.
RR is 1:3. Duration of final target appears to me as 31 Dec 2021.
[ INTRADAY ] BALKRISIND LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
********