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BALRAMPUR CHINI MILLS LTDDiupdate

Breakout from Triangle pattern

Balrampur has BO'd from triangle pattern with decent volumes...targets marked..Trade at your own risk..This is an idea only.
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It has pulled back to the upper part of the triangle...be watchful. especially if starts moving up - then you can think of taking positions..that is a classic set up
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Remember - classic does not mean that you will ALWAYS be profitable...but the probabilities are high
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Trading at 354..if it falls below 348 Rs ( in case you have taken any position) then think of getting out...hope you have a SL in place.
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Yesterday was a red day after many green days for the market...and today it is moving sideways...Balrampur fell 5% yesterday and today it is down 4% again...that is unhealthy
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Chart Patterns
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