Bharat Forge Long opportunity

11 thg 10, 2021

BHARATFORG

Hello All!

Bharat Forge has been consistently following the lower channel trendline since April 2020. It came on its trendline and has shown a strong bullish swing reversal with healthy volumes.The trendline 1 which depicts how the stock was falling has also been broken. This I believe has generated a good opportunity to go long!

Along with the price action there are other reasons to go long as well:

1)The stock is has broken the 50 day EMA and is now trading above it.

2)Along with the lower trendline, the stock has bounced back up from a strong support zone.

The Reward to Risk ratio also seems good!

Do let me know your views on this

*NOT A CALL*