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JAI BALAJI INDUSTRIES LTD
Long

JAIBALAJI : uplift is coming?

133
1. Jai Balaji Industries Ltd

  1. Analysis:

    Wave Structure: Identifies an Elliott Wave correction (ABC structure). Wave C is nearing completion in the 860-841 INR zone.
    Buying Range: Highlighted between 860-841 INR.
    Target Zone: Marked at 1218-1261 INR, suggesting strong upside potential.
    Stop Loss: Defined at 817 INR, just below the buying zone.
  2. Trading Plan:

    Action: Place buy orders in the range of 860-841 INR using a staggered accumulation strategy.
    Stop Loss: Set at 817 INR to account for potential false breakdowns.
    Targets:
    First Target: 1218 INR.
    Final Target: 1261 INR.
  3. Reasoning:

    Wave C completion near the buying range suggests a potential reversal.
    Targets align with historical resistance levels, making them logical profit zones.

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Chart PatternsinvestingopportunityStocksstockstobuystockstowtchswingtradingTrend AnalysisWave Analysis
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Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.