H&S Balkrisind BearishPossible Head & Shoulder formation on Balkrishna Industries, Sell below @ 903 with SL @ 954 and Target @ 854
BALKRISIND trade ideas
Sell BALKRISHNA INDS below 912Sell if sustains below 912 for the targets of 895, 965 and 835.
SL would be 954.
Happy Trading!
Rachit
SHORT BALKRISIND Balkrishna Industries is in Overbought zone and RSI is also showing bearish Divergence
MACD's signal line is also forming a bearish curve and may show a crossover soon
Bollinger Band is also expanding which shows the sentiment of Bears is very high and they are very confident for a Bearish Move
A Bearish Engulfing pattern has been formed which shows Bears are dominating Bulls and which pull the stock downward for sure
It can't get clearer than this, a correction is surely expected
Happy Trading .......
Balkrishna Industry is forming cup patternThe balkrishna industry forming cup pattern.....or may form cup and handle...once breakout above line then SL below the green line....or below handle if cup and handle formed....
BKT Near Supply ZoneBKT Near Supply Zone:-
If it will not able to sustain above 950 then long unwinding will be possible. Below 942 it may test 936-926.
BALKRISIND short near 1010 with 10 points stop lossBALKRISIND short near 1010 with 10 points stop loss
Mild BearishAfter a strong uptrend, stock made the tweezer top pattern on a daily basis. High of both days is around 941.5. Second day, a spinning top candle was made with good volumes. CMP - 926. Psychological resistance - 900. If stock gaps up, wait for the zones of 938-942 to be tested and check the price volume movement. Below 926 (high risk), short can be initiated to the target of 912. Below 912, target can be set for 900 levels. Mild divergence in RSI can also be spotted. Broader trend of the market should be considered before taking a short trade.
balkrishindAnalysis:
Sell below 911.25
Targets are 888,872.8,866.15,856.9,850.75,838.55,812--
SL 932.7
Balkrishna Industries bounced from a good support levels.BALKRISKHNA INDS: The stock has took support at an important level and bounced back. The price action is strong – a bull sash pattern. Also noticed a bounce & support at the KS & TS line (both pointing north). Chikou free above the prices and kumo. RSI into bullish zone just below 60 while MACD is strong above 0. The stock is into bullish momentum and expected to keep its trail up, the next big resistance is close to 960, a close above 900 will further reassure bulls.
#Balkrishna Industries NeutralMay play in range of 812-900
above 900 breakout on daily closing
may lead to Tgt 950 / 970
BALKRISIND Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Balkrishna Ind: Wyckoff Distribution Over, Mark-Dow UnderwayFurther to the recent updates, the price action suggests that Wyckoff Distribution is complete and a Mark Down phase is underway in Balkrishna Industries. Here is the link which has the Point & Figure Horizontal count d.pr
