Balaji amines formed strong base in monthly time frame, breaking bearish trend line. targets and stop loss mentioned on chart itself. Holding period 1 years+.
Balaji Amines Ltd., INDIA is an ISO 9001: 2015 certified company, specialised in manufacturing Methylamines, Ethylamines, Derivatives of Specialty Chemicals and Pharma Excipients. These have been their main products, they additionally manufacture derivatives, which are downstream products for various Pharma /Pesticide industries apart from user specific...
Balaji Amines breakout after 2.26Y. Can expect 2X from current price. Weekly volume is above the average. Daily volume at breakout isn't much convincing. But 15min volume at breakout was good. Maybe for safer side, one can add above 2440. Can wait to retest at breakout maybe around 2350-2360.
Just look at the setup on monthly chart
First strong upside move, then low volume retracement upto 61% .
Here price takes support of 50 MA and gives breakout of multi month trendline resistance with huge volume.
RSI also closed above 50.
Guess the next move in coming months 🙂
Support = 2330
Deep Support = below 2000
Resistance = 2700, 3100, 3300
Disclaimer:...
Stock name = Balaji Amines Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI...
Balaji Amines Ltd. Elliott Wave Analysis - Weekly Logarithmic Chart
The analysis is based on a weekly time frame using a logarithmic chart for Balaji Amines Ltd. The Elliott Wave count reveals a fascinating pattern that can provide insights into potential future price movements. However, it's essential to remember that all trading involves risk, and past...
#BALAMINES
Beautiful breakout in Balaji Amines Ltd.
₹2470-₹2450 zone will be a nice level to buy if there is correction.
Can target 50-60% returns after entry zone is tapped!
counter looking like to have done its bottom....need to close above 2375 with good volumes, first mid term target will be 2700. Cup n Handle BO awaited
Balaji Amines Limited engages in the manufacture and sale of methylamines, ethylamines, and derivatives of specialty chemicals and pharma excipients in India.
The company manufactures derivatives, which are down stream products for various Pharma /Pesticide industries apart from user specific requirements. Balaji Amines (BAL) is one of the leading manufacturers of...
It seems the chemical section has underperformed the overall markets since a year. The chart showing that possible bottom has been formed for this stock.
This is not a buy sell recommendation pls, this deemed to be fit for education purpose only.
Regards.
