Balrampur Chini Mills Ltd | Breakout & Key Levels Analysis The stock has been in a downtrend for the past few months , respecting a descending trendline. However, recent price action shows a strong breakout above key resistance levels, indicating potential bullish momentum.
Key Observations:
✅ Breakout Above Trendline : Price has broken past the descending resistance, signaling a possible trend reversal.
✅ Retesting Supply Zone (532-538): The price is currently testing a critical supply area. A strong close above this could confirm further upside.
✅ Supports to Watch : Immediate support around 486-481, followed by major demand at 424-419 if weakness persists.
✅ Resistance Levels : Next hurdle around 547-550 before a potential rally toward 595-610.
📉 If rejection occurs at resistance, expect a pullback to retest breakout levels.
📈 If sustained buying continues, price could move towards higher resistance zones.
