BALKRISIND trade ideas
Balkrishna Industries Long SetupLong if it breaks the high of the previous day with a stop loss at the previous day's low.
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 Indu - ChannelDuring Year 2018, stock is nicely moving in upward channel. Every time its took
support near lower line (78.6%) of Channel & manage to bounce till 127.2% of previous down fall.
After that took resistance near 127.2% & falling till minumum 78.6% of upmove. As per previous chart dated 26.08.2018 though our trading SL hit but stock nicely respected its resistance level & fallen till support of channel (78.6%).
Stock is also at support of 200 EMA (Low).
This time again stock has taken support @ 78.6%, where channel support also comes.
If this time also support respected & manage to bounce then its risk reward looks favourable for long.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.ed Financial Advisor.
Upon solid 1/1 supportThe stock has sound 1/1 support in the range 1107-1140 in short term. The stock is expected to move up to 1500 in short/ medium term
Balkrishna Inds Falling KnifeFundamental: Buying it. It fell due to capex expansion. It has to come up.
Technical : Swing
BALKRISIND | Short on any riseBalkrisInd missed to post earlier. It can be shorted on any rise. Expected to come down to 1240-50 if Breaks the middle point. which is minimum target from here.
Balkrishna Ind - Channel.During Year 2018, stock is nicely moving in upward channel. Every time its took
support near lower line of Channel & manage to bounce till 127.2% of previous down fall.
After that took resistance near 127.2% & falling till minumum 78.6% of upmove.
This time again stock has taken resistance @ 127.2% of last down move & fallen.
Will History Repeat ?
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
BalKrishna Industries Bounce Uptrend TradeEntry and Exit Points:
Entered on 10 Aug 18 at 1268.75 with CBSL at 1214.05
TSL 0.00% update on 14 Aug 18 from 1214.05 to 1218.55
TSL 0.00% update on 24 Aug 18 from 1218.55 to 1297.40
Current Trailing Stop loss = 1297.40
In case of hitting stop loss confirmed profit of 28.65 points.
BalkrishnaIndA breakout stock, pull back in place. If available in the range of 1330 buy with an SL keeping a target above 1380 and second target can be at 1400.
