Technical Analysis Report: Balmer Lawrie & Co. Ltd.
Overview:
Balmer Lawrie & Co. Ltd. is showing key technical setups, offering potential trading opportunities. Here's a concise breakdown based on the daily chart analysis.
Key Observations:
1.Fibonacci Retracement:
2.Chart Patterns:
3.Moving Averages:
4.RSI Momentum:
Key Levels to Watch:
Potential Scenarios:
Volume Analysis:
Rising volume indicates renewed buying interest, supporting a bullish outlook.
Conclusion:
Balmer Lawrie & Co. Ltd. is poised for a potential breakout above INR 249.54. Traders should monitor key levels closely and manage risk accordingly.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Conduct your own research before investing.
Balmer Lawrie & Co. Ltd. is showing key technical setups, offering potential trading opportunities. Here's a concise breakdown based on the daily chart analysis.
Key Observations:
1.Fibonacci Retracement:
- The stock retraced to the 0.5 level at INR 225.00 and rebounded from the 0.382 level (INR 202.40).
2.Chart Patterns:
- An inverse head-and-shoulders pattern signals potential reversal, with a target of INR 263.45 if INR 249.54 is breached.
3.Moving Averages:
- Near-term support: 20-day EMA (INR 232.30) and 50-day EMA (INR 238.84).
- Resistance: 200-day EMA (INR 245.56), aligning with the pattern neckline.
4.RSI Momentum:
- RSI at 58.36 suggests mild bullish momentum, with room for upside.
Key Levels to Watch:
- Resistance: INR 249.54, INR 263.45, INR 279.95.
- Support: INR 238.00, INR 225.00, INR 202.40.
Potential Scenarios:
- Bullish: A breakout above INR 249.54 could lead to INR 263.45 and potentially INR 279.95.
- Bearish: A rejection near INR 249.54 may push prices back to INR 238.00 or lower.
Volume Analysis:
Rising volume indicates renewed buying interest, supporting a bullish outlook.
Conclusion:
Balmer Lawrie & Co. Ltd. is poised for a potential breakout above INR 249.54. Traders should monitor key levels closely and manage risk accordingly.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Conduct your own research before investing.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.