BALKRISIND | REVERSAL ON THE CARDS | 2.5 RR for NSE:BALKRISIND by Divergent_trader

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Points to be noted: 1> A neckline resistance of 1937 levels is being tested repeatedly & getting rejected

2> For any reversal to sustain, a good base formation must precede it. Here we have a Cup & handle rounded base as a solid foundation

3> A good consolidation usually results in a healthy breakout. We see the stock has been in range for more than a month.

Keeping in mind the above points, a long is initiated as follows:

Entry above 1946.6

SL 1920

Tgt 2011

RR 2.5

As always, trade according to your own risk appetite. And always enter SL first.



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