Bharat Rasayan - a breakout with ELLIOT WAVE Confirmation
Bharat Rasayan
Bharat Rasayan Ltd is engaged in manufacturing Technical Grade Pesticides and Intermediates used in the agro-chemical industry. It was incorporated in 1989.
The company manufactures a wide range of pesticides including insecticides, fungicides, herbicides, weedicides, intermediates and plant growth regulators. It caters to all the pest problems of major crops grown in India including paddy, cotton, soybean, sugarcane and other crops.
Technical Parameters
Breakout of one year consolidation
The stock gave breakout of the range with the good intensity of volume
MACD
MACD is positive in daily as well as in weekly Time Frame.
RSI (Relative Strength Index)
RSI is Above 65 at breakout candle in weekly Time Frame which indicates higher strength
ELLIOT WAVE EXPLAINATION
The stock, since its incorporation (1999) has completed the bigger impulse waves named as black 1-2-3-4 and now it is moving towards the bigger black wave 5th to complete its impulse cycle of 1-2-3-4-5.
STOP LOSS AND TARGET
as per WAVES the stop loss is at 8280 but as per breakout trade the stop loss is at 9181
targets might be 15000-16000-17000
Disclaimer -
I am not SEBI registered. all the studies shared on this page is for Educational purpose.
consult your financial advisor for any kind of investment.
Bharat Rasayan Ltd is engaged in manufacturing Technical Grade Pesticides and Intermediates used in the agro-chemical industry. It was incorporated in 1989.
The company manufactures a wide range of pesticides including insecticides, fungicides, herbicides, weedicides, intermediates and plant growth regulators. It caters to all the pest problems of major crops grown in India including paddy, cotton, soybean, sugarcane and other crops.
Technical Parameters
Breakout of one year consolidation
The stock gave breakout of the range with the good intensity of volume
MACD
MACD is positive in daily as well as in weekly Time Frame.
RSI (Relative Strength Index)
RSI is Above 65 at breakout candle in weekly Time Frame which indicates higher strength
ELLIOT WAVE EXPLAINATION
The stock, since its incorporation (1999) has completed the bigger impulse waves named as black 1-2-3-4 and now it is moving towards the bigger black wave 5th to complete its impulse cycle of 1-2-3-4-5.
STOP LOSS AND TARGET
as per WAVES the stop loss is at 8280 but as per breakout trade the stop loss is at 9181
targets might be 15000-16000-17000
Disclaimer -
I am not SEBI registered. all the studies shared on this page is for Educational purpose.
consult your financial advisor for any kind of investment.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.