SWING IDEA - BIRLA CORPORATION

10 Feb

Birla Corp, a key player in the cement industry, signals a compelling swing buying opportunity driven by strong technical indicators.

Reasons are listed below :

• After multiple tests, a robust breakout above the 1600 zone signifies a significant shift in market sentiment.
  
• The breach of a consolidation area spanning over two years indicates a decisive move in the price action.
  
• A bullish engulfing candlestick followed by confirmation in the subsequent week signals a reversal to bullish sentiment.
  
• Trading above the 50 and 200 Exponential Moving Averages (EMAs) on the weekly timeframe indicates a bullish market stance.
  
• The pattern of consistent higher highs reflects sustained bullish momentum.
  
• Elevated trading volumes validate the strength of the breakout, indicating heightened market participation.
  

Target - 2112 // 2315
Stoploss - weekly close below 1464

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@visionary.growth.insights

15 Mac

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