Stock Radar: Balkrishna Industries stock breaks out from falling parallel channel; time to buy the stock w

Balkrishna Industries Ltd has recently broken out from a falling parallel channel, indicating potential recovery. The stock has found support in the Rs 1,900 to 2,000 range three times since June. Analysts suggest buying the stock with a target above Rs 2,400 within the next few months. A successful retest of the breakout line as support would confirm a change of trend.