TECHNICAL ANALYSIS OF BALKRISHNA INDUSTRIES ON WEEKLY CHART
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