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Bharat Forge Long opportunity

Hello All!

Bharat Forge has been consistently following the lower channel trendline since April 2020. It came on its trendline and has shown a strong bullish swing reversal with healthy volumes.The trendline 1 which depicts how the stock was falling has also been broken. This I believe has generated a good opportunity to go long!

Along with the price action there are other reasons to go long as well:

1)The stock is has broken the 50 day EMA and is now trading above it.

2)Along with the lower trendline, the stock has bounced back up from a strong support zone.

The Reward to Risk ratio also seems good!

Do let me know your views on this

*NOT A CALL*

Traders_Town

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