BALKRISIND trade ideas
Balakrishna industries buyBalkrishna Industries got out of the corridor... I am expecting to have a pull back in the morning and then going up by close to 3-5%
Entry point: around 960
Expected move close to 40-50 points tomorrow and can go upto 1050 in short term
SL: 948
Range Breakoutif you see bigger time frame 1 hr then you will see there is chart pattern breakout after that there is retracement is happening so my view is it can go down fast after crossing 886 and can go up-to 860 but depends upon market sentiments also if market is flat or bearish then can achieve the levels,sharing only my view for study purpose.
selling opportunity.balkrishna daily chart.
There is a breakup of channel and reversed from 200 ema with inverted hammer.
Best Buying level in BalkrishnaIt will be a good opportunity to buy Balkrishna Ind around 1030-1040 levels (trendline support zone), for long term investment.
If it sustain above 1000 on closing basis.
keeping SL 990.
Balkrishna conditional short.Counter is forming inverted head and shoulder pattern on 240 mins time frame,, recently counter is trading in narrow range since last 8 to 9 bars,, breakdown below 1070 would lead sell off in counter till levels of 1034,,1022,,1009,,999,,988,, RSI indicator is on verge to give breakdown from previous low levels,,
TYRE STOCKS: There is buying seen in this tyre stockTyre stocks gaining traction BALKRISIND has given a breakout on daily charts and if there is any retracement to 980 1020 levels the biying is supported by good volumes.
CMP 1022
Accumulation zone: 970-1000 levels
SL 940
Target 1200++
Timeframe: 2-3 weeks
#BALKRISIND buy above 1280Bullish above 1280 for immediate target of 1350
Bearish below 1250 for immediate target of 1100
BALKRISHNA INDUSTRIESDownward channel broken upwards.
RSI also out from a downwards wedge.
But if it manages to breakout from the pocket of resistance (shaded area) then will move on upwards towards the next SR marked in green
Also a bearish shark pattern formed near to this shaded area.
Buy Balkrisind above 739 Buy Balkrisind above 739 SL 724 Target 760++
Timeframe 1 week
Trend: Bullish
