SWING IDEA - BALRAMPUR CHINI
Updated
BALRAMPURCHINI seems to be in a very crucial buying zone.
The reasons are listed below :
Target - 462 // 520
SL - 406 on closing basis
The reasons are listed below :
- Stock price tested 411 levels multiple times and finally broke it and it is retesting those levels
again. - Broke the ascending triangle pattern i.e a bullish sign.
- 200EMA support on daily timeframe.
- Stock was in a consolidation phase from last 1.5 years.
- Higher high are being formed.
- Support formed at 411 levels which was a strong resistance previously.
Target - 462 // 520
SL - 406 on closing basis
Note
We easily achieved our 1st target of 462.Currently, the stock is up by 8.77% from our buying price.
It made a high of 11.5% return within 2 weeks.
Trade closed: stop reached
We hit our first target and then the price reversed rigorously. I hope everyone trailed their SL. We got stopped out!
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