TECHNICAL ANALYSIS OF BALKRISHNA INDUSTRIES ON WEEKLY CHART

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BALKRISIND

Trading Strategy based on Yearly floor pivots and price pattern on weekly chart.

• Go long if and only if price comes back above the channel trendline as illustrated on the chart
  
  
• Yearly Central Pivot Range for (2022) is 2120 - 2251.
  
  
• A close above 2251 and the upper trendline channel on weekly basis is a sign of long entry
  
  
• Stop loss should be below 2120 , below the yearly central pivot range
  
  
• Target 2859 yearly pivot resistance R1