AMARAJA BATTTERY | TRADE IDEA | 24/5/2021All the reasosns for the trade have been explained in the video.
----HAPPY TRADING
Amarajabattery
Amara raja Batteri Long(1) Classic Crab pattern with 1.618 FIB and 0.886 FIB for point B and C
(2) 1.618 FIB via trend based FIB Extension from ABC and project it down with 1.618 FIB around 804
(3) 1.618 FIB Retracement from B to C downwards at 827.
(4) DEMA 400 around 780
Nice and clean long setup with SL around 775 possible tgts are 850 and 870
SHORT AMARAJA BATTERYAS YOU CAN SEE ITS FORMING A DESCENDING TRAINGLE KINDA PATTERN AND IF IT SHOWS WEAKNESS AT RESISTENCE LINE THEN SHORT FOR THE TARGET 920
FOR LEARNING PURPOSE ONLY.
Amar Raja Battery- Meet with a real bull Hello everyone,
Amar Raja Battery still has a good buying Opportunity in the Long Term. The stock has already broken the Dynamic resistance with volume. Time for a profit booking before to start a new rally. Wait for a correction and start to add it from 770 add till 600 Stop loss is: 540 Target is: 1000/1200/1490
AMARA RAJA A GOOD INVESTMENT FOR NEXT 10 TO 20 YEARS THIS IS WEEKLY CHART ANALYSISI TRADE ONLY AFTER CONFIRMATIONS
Trade # 6 - Amaraja near long term resistanceAll the details provided in the chart. This is short trade for aggressive traders only..
DISCLAIMER:
As a trader, you should consider your own risk: reward ratio and do proper lot sizing according to your margin and leverage level. This analysis is a trading idea, not a trading signal for you. Consult your financial advisor before making any trade.
My own trend direction estimation, entry point, stop loss, and take profit levels are on the chart.
Please like, comment, and subscribe; if you find value on my analysis and/or liked my strategy.
Good Lucks.
Amara Raja Batteries from 4 July 2020April-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 this month 20-25% growth can be their ... 1 July opening 650 --> max 780 - 812 very tough
2. cup and handle formation then after good investor build up takeoff to 740 zone
---> if prices come down ... then expecting the end of handle to be around 660-666 then shoot to 740 zone
trade strategy ...
1 safe one ---> sell 640 PE --> sell at 665 zone
2. somewhat risky --- > sell 640 PE ( at price level of 665) + sell 800 CE right now --> heart of steel require
AMARAJABAT - Long/Short possibilitiesAmaraja 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
amarraja can give good move, wait for the breakout. up move supported by volume, now price at critical point.
Amaraja BatteriesThe yellow range is a weekly and daily resistance and stock has reached the the resistance levels, now is the time to actively watch the price action near this range.
Important thing to note here is that when the prices are making higher high , higher low, rsi was almost flat.
One more observation here is that in the start of rally, swings were not overlapping and now the swings started overlapping which is a concern and the momentum seems to fading away.
Amaraja Batteries, 4 Hour chart, Harmonic Pattern As you can see Amaraja batteries moving in Rising channel, cmp 756 and channel support is near 740, with respect to Bearish butterfly harmonic pattern , point no. A-B and if C holds @ 735 (where support trendline is also seen) it will again move up to complete the pattern. Target is coming around 835 with SL at 725 DCB. Risk to reward is 1:10
if we check Weekly chart, it is forming Flag pattern, where flag pattern breakout for new trend, and will establish above 830 if withstands.
Remember this pattern is valid only if point no. C holds, hence PRZ @ 735, if it respects will be updated here in same thread.
Sharing this for education purpose only.
AmaraRajaBatteries: 5th Impulse to 825?Triangle correction is going on, lets see if it reverses @(E) which matches with .618 level.
#AMARAJABAT Evening Star at channel resistance @anish_sharmaaa#AMARAJABAT Evening Star at channel resistance @anish_sharmaaa
Amara Raja Batteries Ltd is in Parallel Channel supportIf it closes below 712 in daily basis, can go for short. Now perfectly in support, if we find some bullish reversal candle, long will be encouraged with a target of 890 in 25 to 40 days.
Amara Raja Batteries - Long Trade - Price ActionAmara Raja Batteries has been in a good fall this whole year.
But citing the good future ahead for this business with push for reforms from government in Electric Vehicles, we can see this stock back in demand once it posts some good results and future road map for investors.
Stock is currently at weekly support of 640 to 675, holding this support for couple of weeks and moving positively we can see 786 and 850 targets.
SL below 640 is must to save the capital in this risky trend.
Lets see the price Action happening in this stock in coming weeks.
