BALKRISIND trade ideas
Balkrishna Industries can give good move above 1630Balkrishna Industries can give good move above 1630
Balkrishna Inds W Breakout ViewBalkrishna Inds:
Looks Good for 'W' Breakout
Long above 1640 with a SL of 1620
SellSell on rise around 1660-1680 stop loss 1701 on daily closing basis for target of 1420-1390.
If it reverses from 1630 and closes below 1600 then stop loss will be 1682 on daily closing bais
Disc : it's not an investment advice to buy or sell
BALKRISIND for long, a game of tough probabilities.BALKRISIND has been following a trend of upwards but in a rather unusual manner.
Good quarterly results have paved a way for a target of 2000.
Challenges are there but within the range of 1700-1780 above that, it looks good for a target of 2000 or above for sure.
Disclaimer: All charts are purely for educational and information purposes only. Invest or Trade at your own risk.
[Positional] BALKRISIND SnR [W]The stock has taken support on a weekly time frame and has shown a sign of reversal.
Looks good above PCH at 1,574
BALKRISIND buy 20% profit stop loss of 2% , 1:10 RRI will buy BALKRISIND because :
It has been taking support at the trend line .
It has touched the support and has not been able to break it.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 1549
Target : 1881
Stop loss : 1505
BALKRISHNA INDS good short candidateBalkrishna inds spot cmp 1730
Good to go short in range of resistance range,, stoploss of the trade will be any close above the breakdown level on closing basis...
1790 would be levels for stoploss,, down side counter can fall to levels of1590-1610..
Investment opportunity in Balkrishna Ind.There has been a big correction in the stock due to the company's decision of expanding the business with help of borrowings, and the stock is at almost 20% down from its all time high. This stock will not be giving much returns in short term as you will definitely see the borrowings increasing in the earnings report. But as time passes those borrowings used will start generating profits and will reduce the borrowings too and the company's past record has shown that they are well capable of doing that. Do not invest if you are looking for short term gains because it will take time before company start the new facility at Bhuj and increase their capacity.
Minimum time to stay invested should be 2 years. RSI is really low. Stock is trading near the support level. Good time to take an entry.
Balkrishna INDBalkrishna Industries is in major support level at 1580! Watch it closely if it bounce back from here and sustain above 1585 for at least 10 monutes its ready to go up for target 1560, 1610. And if it do not sustain the level and trade below 1570 it will go down for target 1550, 1542.
