nikhilgodhani

Study of BEL(Falling wedge and 200 SMA Support)

Education
NSE:BEL   BHARAT ELECTRONICS
BEL was forming falling wedge type pattern
it was getting support form 200 SMA ( 2 time bounced)
Entry above 98
facing resistance near 92 to 98 also 50 SMA was in this zone
by seeing volume one can clearly see that in negative day volume was drying up but
in positive day volume were good
Trade closed: target reached: @ 118 channel starting target reached
TSL around 103 closing basis