Buy BHARAT FORGE
| CP# | 488.45 |
| Idea | BUY |
| Buy Range | 472 – 482 |
| Target | 520 – 525 |
| StopLoss* | 462 |
| Duration | 12 – 15 Trading Days |
| Potential Returns^ | 9 – 10% |
| CP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns^ |
| 488.45 | BUY | 472 – 482 | 520 – 525 | 462 | 12 – 15 Trading Days | 9 – 10% |
# CP – closing price on Feb 03, 2020
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 504.
^ Potential returns are calculated based on the median of buy range.
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COMPANY OVERVIEW
Bharat forge limited manufactures and sells forged components in India and operates in two segments – Forgings and Projects (Capital goods) to help clients across automobiles (across commercial and passenger vehicle), oil and gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering.
| Stock Data | |
| NSE Code | BHARATFORG |
| Sectoral Index | NIFTY 500 |
| 52W High | 548.25 |
| 52W Low | 376 |
| Face Value | 5 |
TECHNICAL OBSERVATIONS (DAILY)
- As we see in the Daily chart, the medium-term trend is positive since last six months. There is a steady support baseline which is moving upwards along with price rise.
- In the past, after resetting the support, stock made a sharp U-Turn over the past couple of weeks.
- The stock has formed Bullish Engulfing candlestick near the bottom, which is a bullish reversal formation. Usually, this type of candlestick suggests the bull has taken control of a security’s price movement from bears.
- Current price is just above the support and based on the historical price action, we may expect a sharp rebound to the upper channel near 520-530.
CONCLUSION - Bharat Forge SHARE PRICE FORECAST
LIVE UPDATE - POSITION & ACTIVITIES
Position: Long Bharat Forge at ₹ 490 | Goodluck Capital by GoodluckCapital on TradingView
Position: Long Bharat Forge at ₹ 490 | Goodluck Capital by GoodluckCapital on TradingView
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⭐️ Ultra Equity Advice #111: medium-term trend is positive + steady support baseline moving upwards
— Goodluck Capital (@CapitalGoodluck) February 4, 2020
🔗 Original Post https://t.co/L8QXD2jDIu#GoodluckCapitalUltra #technicalanalysis #trading