Balkrishan Ind. Ltd This script can be good for upcoming sessions, this is not an investment advise. One can keep an eye on this..
BALKRISIND trade ideas
balkrisind bearish Bearish Marubozu - Hourly: 25 Oct 2024 02:15
Bearish Harami - Hourly 24 Oct 2024 03:30
technically looking bearish; also ceat and goodyear in a tailwind situation too;
2800 pe oct exp at 35-40rs probable
Analysis for Balkrishna Industries
We have a Fresh Supply formed in the left side which is a Source Supply and a Monthly Fresh Demand which is a Destination Demand.
Price has come into the Monthly Supply area, after reacting to the Monthly Supply, Price in Weekly chart has violated its previous low which confirms the downtrend and we have a freshly formed Weekly Supply to short into.
So we have a Weekly Supply with a 5 : 1
Balkrishna Ind.- Bullish swing
03.09.2024
Buy-2916
Target-3196
Stop Loss-2372
Risk Reward-1:1.5
1. Consolidation breakout
2. It has bounced from resistance turned to
support zone by creating double bottom
3.Volume- Good volume accumulation
4. 200 EMA Rejection. About to cross 21 & 50 EMA
5. Exact rejection at 0.5 Fibonacci level
6. RSI Entered to bullish zone from over sold level
Inside candle pattrn in daily chartBalkrisind is daily chart make is inside candl chart pattern focus on this stock
#BALKRISHINDEarly Entry:
After the breakdown of a Rounding Pattern formed since Sept 21, It has shown renewed interest at the bottom of a channel both on the weekly with a hammer candle and a strong bullish bottom shaved engulfing on the daily! Entry above daily close of 2375. Morning Star at the bottom...
Safe Traders wait till Price closes above 200EMA or the Golden Crossover....
Balkrishna LongBalkrishna
Current Price :
Balkrishna Weekly Supply 3239
MTF Analysis
Balkrishna YearlyDemand Breakout 1720
Balkrishna 6 Month Demand Breakout 2723
Balkrishna Qtrly Demand Beakout 1875
Balkrishna Monthly Demand 2478
Balkrishna Weekly BUFL 2795
Balkrishna Weekly DMIP 2912
Balkrishna Daily DMIP 2812
ENTRY 2912
SL 2800
Target 3826
Last High 3369
RR 8.16
Balkrishna Industries 240 Min LONGThe stock may bounce from this level & Stop further downfall. Expecting at least 3:1 RR.
$NSE:BALKRISIND Bullish flag pattern on a weekly chartThe flag pattern is a powerful trend continuation pattern. It represents a brief consolidation after a strong price movement.
In this example of NSE:BALKRISIND ,
The stock rallied by 44%/~1000 in 8 weekly bars - 56 days
Currently, the price has broken out of the channel and is in the same direction as the initial trend of the chart.
It corrected 9% /~302 before breaking out.
Disc - invested, for educational purposes only.
buy at zone - swing / intradayENTRY
- lines marked below is potential reversal zone ( PRZ)
- entry is strictly inside the zone
- look for buying confirmation in smaller time frame ( 15 minutes preferred )
EXIT
1. target
- mark fib retracement from C to latest swing low
- TGT 1 - 0.236 fib level ( intraday tgt)
- TGT 2 - 0.382 fib level
- TGT 3 - 0.5 fib level ( preferred target )
2. SL
- candle close below (PRZ)
- if u didn't get confirmation inside the zone , ignore this pick
- if candle close is below zone , this pattern becomes invalid . IGNORE THIS PICK
- RE-ENTRY can be done , if u again get buying confirmation inside the zone
BALKRISHNA INDUSTRIES LOOKS BULLISH FOR THE TARGET OF 2700Balkrishna Industries Limited (BKT) started its Off-Highway tyre business in 1987. For over 30 years, BKT has successfully focused on specialist segments such as agricultural, construction, and industrial as well as earthmoving, port and mining, ATV, and gardening applications.
BKT is India’s Leading player in the Global ‘Off-Highway Tire (OHT)’ Market. The company sells its tyres in 160+ countries through its distribution network in Europe, America, and Australia. It received 46% of its sales from Europe, followed by India (22%), the Americas (20%) & the Rest of World (12%).
In coming days around 17 may 2024 company will announce their Q4 result which will estimate to come higher than previous quarter result.
After a small falling now on the chart their is also a bullish chart pattern formation on daily as well as weekly chart.
As we see in the chart there is an Cup & Handle pattern formation which tends to reversal on the chart.
Any close above 2475 on the weekly basis will move the stock for the upside rally till 2700 and further new high.
Support and stop loss below 2360 levels on a closing basis.
Descending triangle breakoutGood volume buildup in daily timeframe.
Descending triangle breakout and simultaneously breakout of 1st resistance with good volume.
Fundamental are good.
Net profit increased YOY.
CCC reduced.
FII and DII stake increased compare to last year.
NOTE: I do my analysis, do yours before trade.
go long - swing pick- this stock shows signficant delivery percentage value
- possible chances for accumulation
- may perform good in upcoming days
- this stock is picked after market close based on delivery qty data.
- follow this stock for next 5 days , if entry not triggered with in 5 days , ignore pick
- line marked in chart is the day it showed huge delivery percentage.i consider it as signal candle.i marked its high and low
entry
- go long with 1:1.5 RR
- take entry if 15min close crosses the line , ignore entry if it made gap ups
- i prefer entry with in 5 days , if not triggered ignore this pick
sl
- candle close below signal candle's low
target
- keep 1.5 times of sl.
BALAKRISHNA IDS S/R Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
sell at zone ~ intradayexpecting small fall from the zone .
- good for intraday trade
expecting small fall from the zone . look for confirmation inside zone in smaller time frame
ENTRY
- entry is strictly inside the zone
- look for confirmation in smaller time frame ( 15 mins preferred )
TARGET
- use fibonacci retracement on C to latest swing high
- mark 0.236 fib value as target
STOPLOSS
- if daily tf candle close is above the zone .
Breakaway gap in Balkrishna Industries?The price of NSE: BALKRISIND did breakout from previous all time high and resistance zone with a gap. This could possibly be a breakaway gap with high volume.
The gap was tested this week and bulls held the breakout.
Looks like decent chances of continuation from here.
BALKRISIND: Interesting Price ActionHey There! The chart should tell you everything you need to know about NSE:BALKRISIND
Below are some additional pointers:
- Huge candle breakout: Such breakouts usually show exhaustion and loss of momentum
- Volatile long wick candles: The recent 3 Month consolidation at the resistance zone shows indecision.
- RSI has a Bearish Divergence (-Ve)
- MACD shows reduced bearish momentum (+ve)
- A break and sustenance of the resistance zone will be crucial for further up move. The Psy. level of 2500 sits strong at this zone.
- A break of the support zone may either mean a possible retest or a return to the previous consolidation range. The future price action will guide us w.r.t it.
What do you make of this price action?
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
Balkrishna ind may again shine?Stock on sideways after a stellar rally
cmp 3108
looks good for 3200++
stop @3000
above 3120 might see a sharp rally
vol low now newd to pick up
holding period 2 weeks or target/stop
Balkrishna Industries Limited (BKT) started its Off-Highway tyre business in 1987. For over 30 years, BKT has successfully focused on specialist segments such as agricultural, construction and industrial as well as earthmoving, port and mining, ATV, and gardening applications
BALKRISIND, Cup and HandlePotential upside, BKT seems to be coming out of a cup & handle.
Target at 2730, Stoploss at 2310
BALKRISHNAThere is a breakout of CUP & HOLDER pattern, this is the time to go LONG, RSI is also at good level, Risk & reward ratio is also favorable if we look at the Auto industry it is also in bullish mode, so it is the best time to enter into this script.
#balkrishnaindia long setup After correction stock formed really good base with volume guttering now it's giving volume spike at resistance if it break it and sustain aboue it. Than it will be really good setup.iys fir education purpose only. Am will be not liable for your any lose.
BALAKRISIND--Demand Zone??This stock is continuously falling...
now this stock is near to its demand Zone...
look for long opportunities in this stock.
Drop base drop or Drop base reversal chances are more, rise expected from Demand Zone.
keep safe.
