BALKRISHNA INDUSTRIES LOOKS BULLISH FOR THE TARGET OF 2700
Balkrishna Industries Limited (BKT) started its Off-Highway tyre business in 1987. For over 30 years, BKT has successfully focused on specialist segments such as agricultural, construction, and industrial as well as earthmoving, port and mining, ATV, and gardening applications.
BKT is India’s Leading player in the Global ‘Off-Highway Tire (OHT)’ Market. The company sells its tyres in 160+ countries through its distribution network in Europe, America, and Australia. It received 46% of its sales from Europe, followed by India (22%), the Americas (20%) & the Rest of World (12%).
In coming days around 17 may 2024 company will announce their Q4 result which will estimate to come higher than previous quarter result.
After a small falling now on the chart their is also a bullish chart pattern formation on daily as well as weekly chart.
As we see in the chart there is an Cup & Handle pattern formation which tends to reversal on the chart.
Any close above 2475 on the weekly basis will move the stock for the upside rally till 2700 and further new high.
Support and stop loss below 2360 levels on a closing basis.
BKT is India’s Leading player in the Global ‘Off-Highway Tire (OHT)’ Market. The company sells its tyres in 160+ countries through its distribution network in Europe, America, and Australia. It received 46% of its sales from Europe, followed by India (22%), the Americas (20%) & the Rest of World (12%).
In coming days around 17 may 2024 company will announce their Q4 result which will estimate to come higher than previous quarter result.
After a small falling now on the chart their is also a bullish chart pattern formation on daily as well as weekly chart.
As we see in the chart there is an Cup & Handle pattern formation which tends to reversal on the chart.
Any close above 2475 on the weekly basis will move the stock for the upside rally till 2700 and further new high.
Support and stop loss below 2360 levels on a closing basis.