SWING IDEA - BALRAMPUR CHINI

BALRAMPURCHINI seems to be in a very crucial buying zone.

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

Yorum:

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.

İşlem kapandı: durdurma seviyesi:

We hit our first target and then the price reversed rigorously. I hope everyone trailed their SL. We got stopped out!