19 June 2020 BEL : CMP 80.05 Inverted Head and Shoulder pattern is completed today. The breakout candle with strong volume buying from the last 3 sessions confirms the pattern.
BEL is in the business of Aerospace and Defense manufacturing. Amid India-China stand-off in eastern Ladakh, the government is considering a proposal to buy 21 Mig 29 and 12 Sukhoi Su-30 MKI fighter aircraft from Russia, according to a government source. Please read the news on google.
Buy for target of T1 - 84.50, T2 - 91, T3 - 97.65; SL - 73 Duration - 31 Aug 2020
hi , sir how did you arrive at the targets, just curious. Thnx
Mayur_Undale
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@bhanu68, the pattern gives the target. I make this as the final target and divide it into 3 equal parts. That's my strategy. Duration is generally considered based on the days the pattern has taken to form. Most of the times (8 out of 10 times) target is achieved within the given duration.
brijeshb30
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@Mayur_Undale, Hi it was great to see the target achieved very fast almost 2 month earlier.