BALRAMPURCHIN BREAKOUT ANALYSIS 14 SEP

14 thg 9, 2023

BALRAMPURCHIN is a performance based stock. and if we look at the chart we can see it has given the breakout after a nice consolidation of more than 1 year.
it’s expected to give a nice target of R:R :: 1:3.

Reason:

1. Bullish trangle breakout.
   
2. Support at the VWAP.
   
3. RSI is in Bullish zone, Trendline break of RSI.
   
4. Successful breakout after 14 months
   
5. High Volume trade last 4 days.
   
6. successful breakout of the strong Resistance Zone. Now it will act as support
   
7. Price > EMAs
   

Verdict:
Highly Bullish
R:R :: 1:3

Plan of Action:
Buy: 431.25
Stoploss: 406
Target: 500