BRNL IPO based stratgey (monthly chart)fundamentals are not well
market cap 652 cr
debt 1369 cr
Volume Growth
Support 23.5
Bharat Road Network Limited, incorporated in 2006, is a road BOT company, focused on development, implementation, operation and maintenance of roads/highways projects.The co’s projects are implemented through Special Purpose Vehicles (SPVs).
BRNL trade ideas
A short trade in BRNL.Yesterday there was an unreasonable hike in the price. So the first candle was the reaction of yesterday's buying pressure. But as the hike was unreasonable so it wasn't supported with the fundamental condition so it was definitely a chance to attempt a bear trade . Wait for the resistance level to meet which is represented by the red horizontal line. The bearish flag pattern was on its formation... So I took out the trend lines and watched the stock to break it's nearest support level. As soon as it broke took a short position and let that happen. The target was fixed before the day's open point. And hence obtained a good shot today 👍🏻