Balmer Lawrie is a Mini Ratna PSU stock - a conglomerate under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. Balmer Lawrie has presence in both manufacturing and service sectors. Market leader in Steel Barrels, Industrial Greases & Specialty Lubricants etc...
The first call was given around 150-155 levels for a Cup and Handle...
This stock moving at Life time high level
Good volume
Market fully upside move
Take advantage in bulish market
No recommendation for buy and sell
Take own risks
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BALMLAWRIE, situated at a 5-minute demand zone, presents a rapid trade opportunity. Let's dive into the analysis:
Key Market Positioning 🕒:
Execution (5 min): Currently in a 5-minute demand zone—optimal for quick entry.
Intermediate (75 min): The overarching trend is bullish on the 75-minute chart.
Daily: Reacting positively from its daily...
BALMEIR LAWRIE---DAY CHART --buy near to 142-43 price is inclusive of div Rs 7.50 and expected bonus in future as board meeting had postponed bonus some months back but going forward inverse head and shoulder pattern seen in weekly chart and price target of 174-180-184 can be expected.
Falling Trendline BO retested and confirmed. Inverted H&S BO done. Also, stock is trading above its 10 dema.
CMP: 130
T1: 153+ (inline with Fibonacci targets)
SL: Closing below 115
Stock is now trading above its 10 dema, gaining momentum. Triple rounding bottom can be completed soon. RSI strengthening. Stock is also trading above its falling resistance trendline now.
A swing upto initial target of 150 can be expected soon.
T1: 150
T2: 165
SL: 120
In Daily stock completed Wave 1 - 2 - 3
Current Wave 4 Unfolding
Since wave 2 was deep, chances are wave 4 will be flat
Near term resistance and wave 4 unlocking may happen near 120
Post that stock has minor resistance at 130
Den straight away to 150
Keep an eye
W pattern in making after that ready to move up
took support many times
Buy Between 129 -133
SL 124
TGT 141-146-151-170
Must Correlate yourself also on charts before taking an entry. This is for Educational purposes only. Please consult your Financial advisor before investing.
This analysis is done purely on basis of price action and chart patterns.
The analysis is done on weekly TF hence it can take couple of days to couple of weeks to reach the target.
Logic, SL and Target is shown in image itself.
Also, traders can see Cup & Handle formation on chart as well. (double confirmation of priceaction)
This analysis is for study...
