AMARAJABAT looks bullish on chart, consider buying only if ti breaks 702.65 and sustains.
YOUR IMMEDIATE TARGET CAN BE 728.
EASY WORK
HAHAHAH LET'S GO JAI HIND
April-May has shown considerable Upside movement
June - July month is showing consolidation period ...
prices has touched the red zone thrice ==> also showing breakout ( very high volume )
Daily chart is showing evening doji pattern ....
Future price movement can be expected in two ways ..
1. legitimate breakout ... new consolidation zone around 740
... at-max...
Amaraja Batteries currently below trend line and facing resistance.
Possible trades:
Incase if breaks the trend line (696), we can see strong uptrend towards 760-800 levels
Incase if breaks 669, we can correction towards 655/645 levels.
Add to watch list and trade as per trend
Amaraja Battery Consolidated nicely and broke upwards from the range for a good 12% upmove.
Now, the stock is at important levels of 650-655 which happens to be near 200 daily moving average(DMA).
If this stock is to give any correction towards 570-580 zone then it has to be from here.
On the other hand, Couple of daily closes above 200 DMA would open gates for...
Amara Raja Batteries Ltd. engages in the manufacture, marketing, and trading of lead-acid storage batteries. It offers products under the Amaron, PowerZone, Power Stack, Amaron Volt, QRS, and Genpro brands. The company was founded by Ramachandra Naidu Galla on February 13, 1985 and is headquartered in Hyderabad, India.
AMARAJABAT
