Bharath Forge-Swing Trade-Inside Bar- Will trend continues??? NSE:BHARATFORG
09.08.2023
Buy 1647
Target 1803
StopLoss 1494
1. Inside bar breakout
2. Stock was in good uptrend. Now consolidation is happening
3. Double bottom formation & 0.382 Fibonacci level rejection at same zone
4. Price has crossed 21 EMA & above 50 EMA
5. Volumes are good
6. Stock bounced from 35 RSI
7. Auto sector bounced back strongly
Bharatforge
Another breakout in Bharat Forge.There is another breakout in Bharat Forge and I think the upside rally will continue. I have explained in detail the technical analysis of the daily and hourly chart.
The stronger neckline was already broken on the 8th of May but then there was a retracement which was broken on 27th May, i.e. last Friday.
I have made a long position in futures for a target of around 1650.
My strict SL is at 1530.
NSE:BFINVEST - BF Investment Ltd what's cooking here..?NSE:BFINVEST
BF Investment Ltd Overview
Non-Deposit taking Core Investment Company.
Engaged primarily in making investments in Kalyani Group companies.
History
Incorporated in 2009 by demerging the Investment Business of BF Utilities Ltd.
Under business restructuring, Investment Business transferred to BF Investment Ltd.
Kalyani Group
BF Investment Ltd. (BFIL) is a part of the USD 2.5 billion Kalyani Group from Pune.
Established in the mid-1960s.
Indian multinational with advanced technology, engineering & manufacturing capabilities.
Industries: Engineering Steel, Automotive, Industrial, Renewable Energy, Urban Infrastructure, Specialty Chemicals.
Market leader in forging globally and largest forging exporter from India.
Group Companies: Bharat Forge, KCTI, Kalyani Technoforge, Kalyani Global, Automotive Axles, and more.
Nature of Operations
Mainly focused on investments.
Majority of investments are strategic in nature targeting Kalyani Group Companies.
Investments are long-term and not for trade.
Revenue Mix FY22
Dividend income: ~55%
Interest income: ~34%
Other (Net gain on fair value changes): ~12%
Investments
Investments worth ~ Rs. 1646 Cr as of March 2021.
Significant ownership in Kalyani Steels Ltd., KSL Holdings Private Ltd., Triumphant Special Alloys Pvt. Ltd., Kalyani Financial Services Ltd., and others.
Equity stake in listed and unlisted shares: Bharat Forge Ltd, BF Utilities Ltd., and others.
Invested in preference shares and debentures of Group companies.
Promoter Shareholding
Promoters stake from 73.38%
BHARATFORG - Bullish Consolidation with VolumesNSE: BHARATFORG is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Bharat Forge will continue to Rally with the Double BottomsBharat Forge has formed a bullish double bottom pattern, indicating a potential trend reversal. The recent breakout above the key level confirms the bullish sentiment. This breakout suggests that the price may experience a significant upward movement, potentially resulting in a gain of around 10-11%. It is important to monitor the price action and look for further bullish signals to confirm the continuation of the rally.
BHARATFORGE Make or Break????Hello to everyone
Bharatforge trading at support level OF 830---810. If price respects the support level than we can price moves towards upside and if price breaks the support level than we can see the price moves towards downside in coming days.
#BHARATFORGE📊
👉🏻 Stock at support
👉🏻Support 810 (Make or break) Level
👉🏻Keep an eye
👉🏻Bounce possible if respect 810
#BHARATFORG Bullish Momentum View!!!!!The Price perfectly respecting the change in polarity level. Weekly & Daily chart showing good momentum.Price breakout the resistance level and after breakout price persisting itself near CIP level & stucked itself in tight range and holds itself near higher levels.Expecting good breakout in coming days.Good opportunity to take long position after breakout of range. After breakout of level 920-- 925 we can see good price moment towards upside.
**PRINCIPLE OF CIP** :- Principle of Change in Polarity. According to this principle, whenever support is broken, its role is reversed and it begins to act as new resistance. Similarly, when any resistance is broken, it changes its role and tends to act as the new support level for the price.