INTRADAY TRADE WITH 3:1 OPPORTUNITY -- WITH TREND TRADE WAS WITH TREND & GOOD FOR SHORTING OPPORTUNITY INTO A SZ ZONE FORMED YESTERDAY WITH GOOD R:R
BALKRISIND trade ideas
Balkrishna Industries: A Potential Wyckoff Accumulation & SpringThis stock is an interesting case study for those interested in Wyckoff analysis. The price has been stuck in a range for a long while now. The recent sell off on high volume comes across as a potential Wyckoff Spring. The quick snapback into the trading range with higher volume today is a positive sign.
Am watching this stock with interest and looking to take long trades if I see further strength going forward. What I want to see is ease of movement to the upside or sign of strength in Wyckoff parlance. Strong green candles with above average volume is what I am looking for. Let's see how this one shapes up.
Balkrishna Ind: Update to Previous Post In my earlier post, I talked about a potential accumulation in this stock, based on the price action witnessed yesterday. The price action today doesn't evoke much confidence. Am watching this stock with interest as it could offer a trading opportunity one way or the other. If the accumulation view doesn't play out, then it could be a classic case of Wyckoff distribution. A breach of recent lows 920 will be a sign that distribution is underway and price could then slide sharply as it gets into a mark-down phase.
So. I am watching this stock with interest. I have no positions in this stock as of now. I exited today the token-quantity long positions taken towards the close y'day. Lets wait and watch !! Will share the horizontal count targets based on further confirmation from price action.
Long Balkrishna betby if PDH is broken with SL at channel low or PDL
PDH - 991.45
PDL - 956.45
Channel Low - 930.45
Balkrishna - Breakout after ConsolidationBalkrishna Brokeout today from 975 zone which it was trying from few days now.
A Retest of 975 area is possible in next couple of days. 975 Should Act as a support now.
Target is of 1025 and 1050. It may even try and fill the gap from 6th nov.
Balkrishna INDS Poised for a BounceThere is a Bullish RSI Divergence and MacD Divergence on Daily Chart.
Stock is poised for positive movements for this week.
3 Support zones in the chart if setup fails to work.
BALKRISIND - Compression SetupPositional Trade
Entry - Above 975
SL - 942
Target - 1030
Intraday Trade
Long on 969.80 break with SL as 952.70
Short on 952.50 breal with SL as 969
Buy BALKRISHNA at 1095 add more at 1060, Target 1200, 1 monthWait for 1-1.5 months for target, due to high volatility, go for shares only.
BALKRISIND | Bearish FlagBALKRISIND look seems to be at support but if we can figure it out, there has been quite heavy selling pressure and current condition its losing the momentum. So, Momentum Loss + Price at Support/Resistance, indicates reversals but before reversal we should check the chart patterns which in this case is quite visible that its forming bearish flag. but again, we will not short it right away, we will either wait for it to touch the upper flag channel or break and retest the flag, and then only we will enter into the trade.
Our earlier short position in Balkrisind :
May hold supportHeld support at 936. This is a strong support that was held yesterday. If bullishness returns, next target before any worthwhile resistance is at 1175
BALKRISHNA INDUSTRY add around 871 and 713Add Balkrishna industry small qty around 871 and small qty around 713 for next 1 year view for positional for 20 to 25% gain
BALKRISIND | Multiple Bottoms but no sign yetBALKRISIND is trading at multiple bottoms, ie support levels but there is not sign of reversal yet. However one can carefully trade it. One can go long with SL below today's low.
BalKrishna Inds - At supportSell below 1055 with the stop loss of 1070. Targets are 1040, 1020 and 1000.
#BALKRISHNA IND CASH : LOOKS GOOD ABOVE 1105#BALKRISHNA IND CASH
31 OCT 2018
LOOKS GOOD ABOVE 1105
STOPLOSS 1092
TARGET 1018-1020/1029-1030/1040
CMP 1095.2
BALKRISINDBALKTISIND support at 1000 and 973 if it breaks 1000 then it will see 950 and resistance at 1058 and 1096 if it breaks 1058 it should go upto 1100 further as per my view....
