Amara raja Batteries stay Long
After a 3 months of bear market correction upto 30% stock has taken support at important multi year support and trend reversal with good delivery volumes is visible.
- Company's new investment in EV segment has been a fundamental trigger after a long weak trend.
-Breakout from falling price action pattern.
- Personally took longs during Monday morning dip when the company came out with Diversification in Green energy official press release circular around 755rs, positionally holding longs at cmp 785,
50 DMA at 790, 200 DMA around 817, once crossed can expect 850/900+ in short term.
Only for educational purpose.
Both fundamental and Technical looking strong for this run.
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