balkrishna ind box breakoutbox breakout on monthly charts
p/e 30, revenue growth not stable
no excessive debt
tyre industry highly dependent on lower oil prices, not favorable
BALKRISIND trade ideas
My view on BALKRISINDIn Balkrisind Looking a very beautiful Cup & Handle Pattern.If it sustain above 2162 target looking 2210-2220-2300++.We will use SL 2120.Keeping on radar Balkrisind 2200 CE April Series.
BalkrishnaBalkrishna break out of resistance on 4th January couldnt sustain, made an high of 2361 n reversed. Today, again it broke out of resistance zone & also break above 4th jan's high of 2361.
Could be bought with mentioned stop-loss & targets.
entry at balkrisindBSE:BALKRISIND it is at support level as we can see the trend line in 15 min time frame is breaking up so we can go go long till next resistance
Balkrisna Industries-Buy BuyThe stock looks good for long (Double Bottom Pattern).
Buy Buy.
Its target I have shown in the picture. Thank You.
Disclaimer: Don't just blindly Trade or Invest, learn and then trade. Manage your risks properly.
This analysis is purely for EDUCATIONAL purpose
BALKRISINDnow the price is at breakout region, wait for breakout and retrace based on the daily candle closes
price now takes resistance at the down trend line, so wait for breakout or reversal based on the monday candle close
BALKRISHNANet Sales - QoQ Growth in quarter ended Sep 2021 is 14.94% vs 2.82% in Jun 2021
Consolidated Net Profit - QoQ Growth in quarter ended Sep 2021 is 18.29% vs -13% in Jun 2021
1 Month: Delivery volume fell by -44.63%
1 Day: Delivery volume increased by 18.61% over 5 day average
F&O data suggests Short covering today
14.06% away from 52 week hig
Growth in Net Profit with increasing Profit Margin (QoQ)
Company with Low Debt
High Piotroski Score - Companies with strong financials
Number of FII/FPI investors increased from 466 to 524 in Sep 2021 qtr.
---
Revenue 7.6%
NetProfit 17.0%
OperatingProfit 18.0%
---
lIKE IF YOU AGREE
balkrishn indbullish view on balkrishn ind as per ma 50 is bounsing level on weekly timeframe and 200 ms in daily candle.
Balkrishna Industries Reversal TradeThe stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
Long on Balkrishna Inds1. Bounce from Support zone
2. Trendline support
3. 200 EMA support
4. Short term trendline breakout
Shorting or Buying depends on price action at 2200-2250 rangeStanding at Make or Break level. (2250)
If goes below 2210 and form some bearish price action candle stick pattern on 15 minute TF then Good shorting opportunity.
Else 2200 can act a support. For this again watch the price action and candle stick patter, is there any bullish patter and reversal sign? Then go Long
R:R should be 1:4 (100 points :400 points ) in both short or long trade. (Keep trailing the SL)
Balkrishina look week as on charts As charts suggest go for short because its broke the trend line volume support the prediction when price cross the consolidation zone go for short for save side,
Hidden Bullish DivergenceThis can be seen when the pair is in an UPTREND.
Once price makes a higher low (HL), look and see if the RSI or oscillator does the same.
If it doesn’t and makes a lower low (LL), then we’ve got some hidden divergence in our hands.
That's a sign of trend continuation.
Go longBalkrishna stock as broken its previous resistance/ swing with good volume and buying pressure. Good opportunity for swing trade.
Bullish on Balakrishna Industries(1hour)
- Above 50>100>200 Moving Averages
- Trend line breakout
- Macd Crossover
- Previous Resistance is the target 🎯
