BALKRISIND trade ideas
BALKRISIND : IN : SHORT As per wave analysis, the script is in correction and it can go down to 1850 levels.
We will analyse sometime in mid jan or 1st week of Feb 2018.
Short # Balkrishna above 2200 ..short term Short #Balkrishna above 2200 ..stop loss -2245
Target -2069-1949
balkrishna industriesstrong momentum in balkrishna can take it to 1900+ levels as longa as 1670 holds
BALKRISHNA INDUSTRIES : Bullish RSI Divergence
Price action is trading at support levels and has formed bullish RSI divergence.
Falling wedge pattern might be broken out soon as price is repeatedly getting supported at 1585-1590 range.
2 spinning tops formed recently with significant volume considering other volume of candles in the vicinity. Spinning tops suggest indecision.
Volume declining with price, supply getting exhausted.
Balkrishna Ind. LtdTook supporting again near 1605 creating double bottom in daily chart.May rise up to
1699/1722 in short term. SL 1630 on closing basis.
balkrishna ind looks bullish in short to medium termin weekly it is in strong uptrend,
in daily, hammer formed at uptrend channel support + horizontal support, price should reverse and go up from here.
sl - 1573, 1st tgt - 1732, tgt2 - 1800
Balkrishna Industries, Breakout coming soonStock is in an uptrend. Longs can be inititaed. Long at 1655 tgt 1755 sl 1650 closing basis.
Disclaimer: I am a novice at charting and this chart is only for educational purpose. Views and opinions are welcome.
Balkrishna industries trading ideaThe stock has been making higher top, higher bottom, one of the easiest set up to trade.
The fall from top appears corrective. if you can accumulate at 1630-20 levels. with a stop loss of 1600, one can target 1760 levels.
good risk reward
Balkrishna IndustriesSmall Rounding Pattern
Close above 1480 will give this fuel to move towards 1550/1600
SL 1450 once in Trade
short the stock we saw a bearish engulfing pattern , dark cloud cover and the bearish divergence there and as the price is below 8 ema short the stock !!!!!!!!!!!!!!!!!!!!!!
