Good opportunity on BALAMINES to entry long on Triangle Breakout.
Key highlights:
1. Triangle Patter Breakout
2. Accumulation on high volume
3. Good Strength and Risk and Reward
Balaamines
on monthly timeframe
It is good for long term every correction it give good impulse. It is good for accumulation point of .
#######Balaamines Stock#####
Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes.
- Jesse Livermore
BUY - BALAJI AMINES LTD
CMP - Rs. 2286
Target - 1: Rs. 3507
Target - 2: Rs. 4427
.
Timeframe: Target - 1: 6-8 months, Target - 2: 9-15 months
.
Technicals - Bullish Flag Breakout
.
This is just a view by an expert analyst, please invest at your own risk.
.
Follow me for more!
1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula: - Stop Loss Amount/(Buy Price - Initial Stop Loss Price)
4. Sell on initial Stop Loss hit or RSI close below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion...
Balaji amines Near Support Zone fibo to can hit fibo zone 50%
Most probably Can hit to Trendline Resistance Level as mentioned on the chart. one can add buy in DIP with Srop 1884 For Target 3000+++
View only for Educational purposes
Looks good for buying as big support near 1800-1900 levels. 200WMA and AVWAP from March 2020 lows can provide a good support and May bounce back. View invalid below 1800 weekly closing basis.
Balaji Amines and Alkyl Amines are the only sharks on there field, stock is in a long consolidation, it good time to accumulate this good fundamental stock. buy the dip till 2600.Believe in Kothari Sir
NSE:BALAMINES
One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
Close should be good, and Clean.
R:R ratio should be 1 :2 .
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
NSE:BALAMINES has completed Double Top pattern. After the break of neckline, the Target will be the height of the top to neckline.
Can we see the breakout or failure in pattern?
BALAMINES seems to be in the last phase of its consolidations. Volatility is contracting, Volumes are drying, Cup and handle pattern. High volumes on a bullish day and low volumes on bearish days show accumulation. Good to buy if 3844 is broken with good volume. An Early cheat point for risk takers is 3720. This seems to be very explosive stock to hold for a long swing.
