Balkrishna Industries is in a upward channel.
An upward channel is always considered a bear flag and breakout in upward direction can be completely ruled out technically.
Doji candle formed in todays session has taken support at 50 DMA .
This candle is a bearish candle which signals exhaustion.
And if you see the big bull candle at the top of channel signals buy climax.
I technically rule out any upmove and expect price to come down crashing once it closes below 50 DMA.
This stock is a sell for me at these levels.
Volume in this case doesnt tell us much as far as red candles are concerned however last green candle completely
signals a buy climax.
SELL this stock to the level of 780 to say the least.
An upward channel is always considered a bear flag and breakout in upward direction can be completely ruled out technically.
Doji candle formed in todays session has taken support at 50 DMA .
This candle is a bearish candle which signals exhaustion.
And if you see the big bull candle at the top of channel signals buy climax.
I technically rule out any upmove and expect price to come down crashing once it closes below 50 DMA.
This stock is a sell for me at these levels.
Volume in this case doesnt tell us much as far as red candles are concerned however last green candle completely
signals a buy climax.
SELL this stock to the level of 780 to say the least.