BALKRISIND trade ideas
BALKRISIND near to breakoutAfter a good movement from 1100 to 1300 stock is went into correction mode.
Range bound from last 10 days.Moving between demand & supply zone.
Might be continue bullish trend or vice versa.
For breakout following points we need to consider.
Need to break resistance level 1260-1263.
Need to break resistance trendline with vol.
RSI > 50
Note - Balkrishna Industry chart is similar as previous week nifty chart, so might be result will be as Nifty.
BALKRISHNA INDS LONGTHE STOCK HAS GIVEN A BREAKOUT WITH GOOD VOLUMES. A CONSOLIDATION AT RESISTANCE SHOWS THAT THE STOCK HAS BEEN ABSORBING THE SUPPLY. A GOOD MOMENTUM ON MONDAY IN THE FIRST ONE HOUR IS GOOD TO GO LONG IN THE STOCK.
STOPLOSS WOULD BE THE BREAKOUT CANDLES LOW.
TARGET WOULD BE AS AND WHEN YOU GET COMFORTABLE WITH PROFITS.
BALKRISIND - Breakout from Range BoundLooks like Balkrishna Inds finally gave break out from range bound.
We may get small retracement till 1291 and if it sustains above this level then it will continue it's uptrend.
Disclaimer: The chart provided is only for educational purpose and not a trading recommendation.
BALKRISIND, YEAR LONG BREAKOUT AFTER CONSOLIDATION.BALKRISIND has given BO from year long TREND LINE and looks bullish above 1028 with 1050-52 as next resistance. Keep this in radar for Monday along with GRASIM.
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Price action trading is a process of using price to analyze stock possible movement. Keep your charts as simple as possible so that you keep focus on most important element on chart "PRICE".
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Piyush Gupta
BALKRISHNA INDUSTRIESBALKRISIND seems to be trading in the broadening triangle. It took support perfectly at the support line of the triangle in the March crash & now looks to be going towards the resistance line around 1450 near the all time high of the stock.
Parellel channel in BALAKRISINDTrade setups as follows :
Breakout trades - Long above 1296 and short below 1262
Support and resistance reversal trades - Short on resitance 1296 and long in 1262 if you see reversal candles
Follow strict RM and PS .
Disclaimer: Analysis in charts are only for educational and information purpose only. Invest or Trade at your own risk management.
Buying Opportunity; Long BALKRISIND at current level Target@1310BALKRISIND looks strong with volume analysis, buying opportunity exists at the current level with a price target of 1310-1320 in the upcoming 7-10 sessions.
Analysis on the basis of channel pattern in BALKRISIND in 1H tf.Everything is explained on chart however target and stoploss are not mentioned. Select them on your own once entry gets confirmed. For that use your own method. Reversal candles with long shadow are shown in rectangle.
Buy BalkrishnaIf Breakout Sucessful only then have to long balkrishna target should be marked in the chart ...
BALKRISHNA INDUSTRIES..time to move upBalkrishna Ind has been been consolidayr last 2 weeks around the 20 dma. and last 2 days there is a pick up in volume.
Close above 1313 on daily chart can take it to 1400.
SL below 1240
BALKRISHNA INDS TRADE PLAN: 27 JUL 20 ONWARDSBALKRISHNA INDS @ 1257.60
27 Jul 20
Possible HEAD & SHOULDER pattern, price @ neckline.
Trade Plan 1:
Sell – 1248.90
Target 1 – 1215.60
Target 2 – 1182.25
Target 3 – 1148.90
Strict stop above 1294.25
Be Proactive Trader
Better Insight, Better Trade Execution
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind
Dhiraj Singh Bais
Warrior @ Battle field
BALKRISIND :- TRADE PLAN 27 JUL ONWRADRSContinuation pattern ( Cup with Handle, Inverted & Head & Shoulder ) shaping up in INDIGO.
Waiting for breakout & confirmation of the pattern!!!
Levels mentioned on chart.
Trade Plan:
Short – 1242
Target 1 – 1197
Target 2 – 1171.85
Target 3 - 1139.10
Strict stop above - 1292
Views are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
"Always Respect Risk"
Happy Trading
Jai Hind,Jai Bharat
BALKRISHNA INDThe WEEKLY time frame has activated a Bearish Harmonic Shark. If it sustains below 1250 then it could retest 1200 and below that 1075. View would negate above 1270
BALKRISHIND - SHORT SETUPThis stock is trading in the same range and forming inside candles of a big candle. If it breaks the range, towards downside, we can easily capture 10-15 points.
BalKrisInd - Short Trade Setup ActivatedOn the chart of BalkrisInd there were two Doji candles and then a down reversal candle that shows weakness on the charts at the top. After 3 days of inside candles, Today BalkrisInd gave a breakdown and in this swing, this may fall down to touch its support of 1170-1200. From here one may short this stock with the stop loss of 1310 or Buy Put.
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades given by me. I MUST not be held responsible for any profit or loss out of any trades you take on our advice.
