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.
Amarajabattery
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.
