Above 147 the stock looks bullish Please confirm with good volumes on 5 mins candle.
Enter around 145.95
BALMLAWRIE is testing important daily resistance. Target could be recent high 170.
showed some resistance in the range but finally broke out of the range today and looking at the ema (15,45) theres a good uptrend coming
Head and shoulder breakout with strong bullish candle and volume.
Fibonacci retracement indicates that stock might fall down to lower levels in coming days
This is follow-up on Balmer Lawrie. Can check link to related ideas. Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart. Trade is ON. Disclaimer: This is for demonstration and educational purpose only.
This stock is just on the verge of a big breakout on it's weekly charts but that's not all it is one of the contenders to be in the next list of the companies to be privatized by the government, company looks really sound in it's financial statements too and all of these points make it loo really good to go from here. It has been an underdog from so long but now...
Chart is self explanatory...
Ref chart Vijayaraghavan.K, Kovilpatti
#Balmlawrie - Resistant BO with strong volume. TL tested and waiting for BO further. Safe traders can enter above BO. #SWING #Positional