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BALKRISHNA INDUSTRIES LTD.BALKRISHNA INDUSTRIES LTD.BALKRISHNA INDUSTRIES LTD.

BALKRISHNA INDUSTRIES LTD.

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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.
NSE:BALKRISINDLong
by techtrail
1
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.
NSE:BALKRISIND
by techtrail
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 :
NSE:BALKRISINDShort
by TradersHunt
1