Balkrishna Industries NSE:BALKRISIND failed to cross the crucial resistance around 1139 levels today.
I can see that the stock price got rejected after retracing 61.8% of the previous downmove.
Good opportunity to short here with a stop loss around 1140 levels for targets of 1082 and 1038.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
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Cracked nicely !!...has given huge movement on the downside as anticipated !