Balaji Amines Flag Breakout 2XBalaji Amines breakout after 2.26Y. Can expect 2X from current price. Weekly volume is above the average. Daily volume at breakout isn't much convincing. But 15min volume at breakout was good. Maybe for safer side, one can add above 2440. Can wait to retest at breakout maybe around 2350-2360.
Balajiamines
SWING IDEA - BALAJI AMINESBalaji Amines , a leading manufacturer of specialty chemicals, is showing promising signs for a potential swing trade.
Reasons are listed below:
Crucial Support Zone (1850-2000) : The 1850-2000 range has proven to be a strong support zone, indicating significant buying interest and potential for a price rebound.
0.618 Fibonacci Support : The price has found support at the 0.618 Fibonacci retracement level, often referred to as the "golden ratio," suggesting a likely reversal or continuation of the uptrend.
Bullish Marubozu Candle on Weekly Timeframe : The recent weekly candle is a bullish marubozu, characterized by little to no shadows, indicating strong buying pressure and potential for further upward movement.
Support from 50 and 200 EMA on Weekly Timeframe : The stock is trading above both the 50-week and 200-week exponential moving averages, providing strong support and confirming the long-term uptrend.
Increase in Volumes : A noticeable spike in trading volume often confirms the strength of a price move, indicating greater participation and confidence in the direction of the trend.
Target - 2720 // 3030 // 3800
Stoploss - weekly close below 1875
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@visionary.growth.insights
Balaji Amines on the way of sky rocketing Here on chart, you can easily check that it had broke the trendline on Friday @ 2348 level, now it will fly towards upside soon. Crucial Levels are:
1st Target - Rs 2700
2nd Target - Rs 3500
3rd Target - Rs 5000
Stoploss - Rs 2000
Note - Please consult your financial advisor before taking any trade in Balaji Amines
Balaji Amines looking good after a long time. Balaji Amines Ltd., INDIA is an ISO 9001: 2015 certified company, specialised in manufacturing Methylamines, Ethylamines, Derivatives of Specialty Chemicals and Pharma Excipients. These have been their main products, they additionally manufacture derivatives, which are downstream products for various Pharma /Pesticide industries apart from user specific requirements.
Negative aspects of the company are de-growth in revenue and profit and high PE 42.1. Positive aspects of the company are low debt, net cash flow from operating activities increasing, MFs increasing stake and Zero promoter pledge.
Entry can be taken after closing above 2428. Targets in the stock will be 2493 and 2553. The long-term target in the stock will be 2588 and 2600+. Stop loss in the stock should be maintained at Closing below 2130.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Balaji Amines Ltd. Elliott Wave Analysis - Weekly LogarithmicBalaji Amines Ltd. Elliott Wave Analysis - Weekly Logarithmic Chart
The analysis is based on a weekly time frame using a logarithmic chart for Balaji Amines Ltd. The Elliott Wave count reveals a fascinating pattern that can provide insights into potential future price movements. However, it's essential to remember that all trading involves risk, and past performance does not guarantee future results. Always conduct thorough research and consider the inherent uncertainties in financial markets.
Wave Count:
Wave 1 (Nov 2010):
The first wave appears to have completed in November 2010, closing at 57.85. This initial bullish move signaled the beginning of an upward trend.
Wave 2 ABC Correction (Aug 2013):
A corrective ABC pattern followed, completing in August 2013 with a low of 28.05. This retracement set the stage for the next bullish wave.
Wave 3 (Jan 2018):
Wave 3 unfolded with remarkable strength, reaching its peak in January 2018 at a high price of 782. This phase demonstrated the powerful momentum characteristic of third waves.
Target for Wave (3):
The projected target for Wave 3 is at 10267, based on traditional Elliott Wave analysis, indicating the potential magnitude of the bullish move.
Wave 4 ABC Correction (Mar 2020):
The onset of the COVID-19 crash marked the completion of an ABC correction for wave 4, concluding in March 2020 with a low of 200. The market's response to the pandemic created a significant correction.
Wave 5 (Sep 2021):
Wave 5, the final wave of smaller degree, reached its zenith in September 2021, with the stock achieving a high of 5223.55. This completed the five waves of minor degree, establishing a primary degree (1) in September 2021.
Current Scenario:
Post the completion of Wave 5, the stock transitioned into a bearish phase, undergoing an ABC correction near 1880 with a retracement exceeding 61.8%. This correction suggests a significant pullback, indicating a potential change in the overall trend.
Invalidation Level:
The bullish scenario would be invalidated if the stock price falls below the critical level of 1880, signaling potential weakness in the overall Elliott Wave structure.
Disclaimer:
This Elliott Wave analysis is speculative and based on historical price movements. Market dynamics can change, and unforeseen events may impact stock prices. It's crucial for investors to conduct their own research, consider multiple factors, and, if necessary, consult with financial professionals before making any investment decisions. Trading and investing always involve risks, and past performance is not indicative of future results.
Balaji amines limited: An opportunity for value investors.Balaji amines is going through a deep cyclical price correction , due to fallen demand of amines and amines derivatives in Pharmaceutical industry, Petrochemical, and specialty chemical sectors, surge in raw material cost and lower demand overall affecting earnings. Thus amine stocks have seen 50 % to 60% price correction. But over the past 3 decades amines industries has been on an average rising 10% to 15 % per annum making over 500x times over multi decade returns for its long-term investors. Amines industry also has high barrier to entry in its business, they cannot be imported nor exported over long distance due to associated combustible hazards, so they can act as regional monopolies in longer run.
Deep cyclical correction and stock going through maximum pain is perfect opportunity where value investors can time their bets and wait patiently for profitable cycle to emerge and reward them. Risk is already factored and negated, any further down side becomes an opportunity to pyramid upon existing thier investment.
Technical analysis for Balaji amines at 4 hours TF
Point of control for price 2131 above it rises with strong buyers volumes and falls below it with strong sellers volumes.
Breakdown level 1947
Value investors opportunity levels 1809/1708/1612
Heavy overhead price supply zone 2798/2927/3111 price will resist and revert to price of control 2131
Major breakout only above pivot range 3278 to 3498 for momentum investors with targets T1, T2 and T3 as per fibbonaci levels.
Balaji amines limited: Deep Analysis for value investors Balaji amines is going through a deep cyclical price correction , due to fallen demand of amines and amines derivatives in Pharmaceutical industry, Petrochemical, and specialty chemical sectors, surge in raw material cost and lower demand overall affecting earnings. Thus amine stocks have seen 50 % to 60% price correction. But over the past 3 decades amines industries has been on an average rising 10% to 15 % per annum making over 500x times over multi decade returns for its long-term investors. Amines industry also has high barrier to entry in its business, they cannot be imported nor exported over long distance due to associated combustible hazards, so they can act as regional monopolies in longer run.
Deep cyclical correction and stock going through maximum pain is perfect opportunity where value investors can time their bets and wait patiently for profitable cycle to emerge and reward them. Risk is already factored and negated, any further down side becomes an opportunity to pyramid upon existing thier investment.
29 % fundamentally expected on long side of a Amine Company spotBAL commenced manufacture of Methyl Amines in the year 1989 and subsequently added facilities for manufacture of Ethyl Amines and other derivatives of Methyl Amines and Ethyl Amines. BAL has been consistently adding capacities and fine tuning process to provide quality products at lowest cost to the customers.
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