Balkrishna Indutries Oct Fut
-
Balkrishna Industries - The price is consolidating in 2.8% range from last 15 days. It has given weak breakouts for a couple of times but the price did not fall below the low of the range. Interestingly, a variation of selling climax will be triggered if the price breaks out above 2465. During this period, 1% breadth for Auto sector has fallen from overbought zone to below mid level (bearish). I will wait for Auto breadth to cross 50 level and wait for balkrishna futures cross 2580 and will trade a FT with mast L2 as a sl.with pricing going above 2580, it will also be a cup and handle formation.
The confirmations on breadth and price are awaited as the RS is already positive for the stocks. Let's see what happens.
