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Visionary_Growth_Insights

SWING IDEA - BALRAMPUR CHINI

Long
BALRAMPUR CHINI MI (NSE:BALRAMCHIN)  
Visionary_Growth_Insights Updated   
NSE:BALRAMCHIN   BALRAMPUR CHINI MI
Trend Analysis Chart Patterns Technical Indicators swingtrading swingtrade ideas longsetup buyzone retest-structure indianstocks balrampurchini BSE
4
0
trendanalysis chartpattern indicator swingtrading swingtrade ideas longsetup buyzone retest-structure indianstocks balrampurchini bse
BALRAMPURCHINI seems to be in a very crucial buying zone.

The reasons are listed below :
  • Stock price tested 411 levels multiple times and finally broke it and it is retesting those levels
    again.
  • Broke the ascending triangle pattern i.e a bullish sign.
  • 200EMA support on daily timeframe.
  • Stock was in a consolidation phase from last 1.5 years.
  • Higher high are being formed.
  • Support formed at 411 levels which was a strong resistance previously.

Target - 462 // 520
SL - 406 on closing basis
Comment:
We easily achieved our 1st target of 462.
Currently, the stock is up by 8.77% from our buying price.
It made a high of 11.5% return within 2 weeks.
Trade closed: stop reached:
We hit our first target and then the price reversed rigorously. I hope everyone trailed their SL. We got stopped out!
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