Ascending Channel has been formed in BALKRISHNA INDUSTRIES.
What i'm anticipating is continuation as it as broke the resistance along with H&S schematic that it formed near the support trendline and also restested it after breakout.
Expected Targets are:
TP1 - 2449.35
TP3 - 2550
TP3 - Resistance trendline
BALKRISHNA INDUSTRIES LTD
Key highlights: 💡⚡
✅On 1Day Time Frame Stock Showing Breakout of Rising wedge Pattern .
✅ Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 2850+.
✅Can Go Long in this stock by placing a stop loss below 2420 -.
It gave a major breakout of symmetrical triangle breakout on weekly timeframe and now is ready to fly. Once it crosses 2500 convincingly on daily tf, it will gain more strength and show spectacular move. Build positions on it for ATH target and beyond. Also, volumes have risen sharply in the past 2 days signalling the start of momentum.
With a potential gain of 200 points as a positional base, BKT is looking attractive over 2300.
I am not a registered advisor nor with the SEC; therefore, before investing, please with your advisor.
Take a view of a year or two, and initiate a buy trade here. SL and Target are shown on the chart.
Disclaimer:- This is for idea purpose only. I am not a SEBI Reg. analyst. Do your own research before investing or trading.
In the Weekly Chart of BALKRISIND ,
we can see that, it has given breakout.
Let it retest and form a Bullish Candle in One Day Time Frame Then enter with SL and hold till above target.
Balkrishna Industries:
Asc. Triangle: Monthly Basis. Price BreakOut & Sustained. Good to Go.
Strong Vol. Consolidation & Continued BuiltUp.
RSI: 1H=1D>W>M. With the US & Europe expecting to see Upside now in their economics, this can show a strong Upside.
Do your own Research as well. Happy Investing 😇
the stock is trending upwards in daily time frame.
now the price is facing resistance @2240 range.
If price breaks this resistance we have an immediate resistance @2260 range.
now the stock is looking weak in buy side, if it will sustain above 2180 range we will observe some bullish momentum again.
if price breaks 2180 and demand at 2160 level failed to...
#BALKRISIND is currently trading near a resistance area, with a possible breakout above 2160+ closing. If the breakout occurs, the price could fill the upper gap space and reach targets of 2263, 2333, and 2433.
Traders should keep a close eye on #BALKRISIND and look for confirmation of the breakout before entering a long position. If the breakout fails, the price...
NSE:BALKRISIND
One Can Enter Now ! Or Wait for Retest of the Trendline (BO).
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
