BALKRISIND trade ideas
BalkrishnaInd October SeriesMonthly Chart
The uptrend has been broken on a monthly timeframe and it is likely to stay between 970 – 1200.
Weekly Chart
The stock is in a range and the 1015-1020 zone is acting as a support with the next immediate support as 975.
Daily Chart
The daily chart shows a minor resistance zone at 1135. The range 980 – 1000 definitely indicates a buying interest. However, owing to fundamentals impacting tyre stocks, PE could be a risky trade.
OI Analysis - The lower limit is 980 and the upper range is at 1200.
imgur.com
Payoff Graph - unofficed.com
Turtle Trade Idea
Sell 1150 CE at 16
Sell 1000 PE at 28.95
BALKRISINDmajor breakdown below 1005
short below 1005 for 1st target of 880
if closes above 1040 short will be invalid
BalKrishnaInd - At supportPrice is at the support zone 1000 - 1020. Awaiting for the trend direction.
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.
