Technical Analysis Report: Balmer Lawrie & Co. Ltd.

Overview:
Balmer Lawrie & Co. Ltd. is showing key technical setups, offering potential trading opportunities. Here's a concise breakdown based on the daily chart analysis.

Key Observations:
1.Fibonacci Retracement:

• The stock retraced to the 0.5 level at INR 225.00 and rebounded from the 0.382 level (INR 202.40).
  

2.Chart Patterns:

• An inverse head-and-shoulders pattern signals potential reversal, with a target of INR 263.45 if INR 249.54 is breached.
  

3.Moving Averages:

• Near-term support: 20-day EMA (INR 232.30) and 50-day EMA (INR 238.84).
  
• Resistance: 200-day EMA (INR 245.56), aligning with the pattern neckline.
  

4.RSI Momentum:

• RSI at 58.36 suggests mild bullish momentum, with room for upside.
  

Key Levels to Watch:

• Resistance: INR 249.54, INR 263.45, INR 279.95.
  
• Support: INR 238.00, INR 225.00, INR 202.40.
  

Potential Scenarios:

• Bullish: A breakout above INR 249.54 could lead to INR 263.45 and potentially INR 279.95.
  
• Bearish: A rejection near INR 249.54 may push prices back to INR 238.00 or lower.
  

Volume Analysis:
Rising volume indicates renewed buying interest, supporting a bullish outlook.
Conclusion:
Balmer Lawrie & Co. Ltd. is poised for a potential breakout above INR 249.54. Traders should monitor key levels closely and manage risk accordingly.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Conduct your own research before investing.