BEL – Trendline Breakdown & Supply Zone Rejection | Bearish Setu
BEL has rejected strongly from the higher-timeframe supply zone around ₹425–₹430, followed by a clean trendline breakdown. This breakdown signals weakening bullish momentum and opens the door for a deeper correction.
📌 Key Highlights
Strong rejection from the major supply zone.
Clear trendline break, indicating a shift in structure.
Price currently hovering near ₹408–₹410 support.
Expecting a pullback before continuation.
🎯 Entry Plan (Breakdown + Retest)
🔽 Preferred Entry Model
1. Breakdown:
Price breaks below the minor structure at ₹406–₹408 with a strong bearish candle.
2. Retest:
Wait for price to pull back toward ₹408–₹410 (previous support → now resistance) OR a retest of the broken trendline.
3. Entry Trigger:
Enter short only after a bearish rejection (wick rejections / bearish engulfing / breakdown of retest low).
📍 Ideal Entry Zone:
₹400 – ₹403
🎯 Targets
TP1: ₹395
TP2: ₹382
Final Target (HTF Demand): ₹360 – ₹365
❌ Invalidation
Setup invalid if BEL reclaims ₹425 and sustains above the supply zone.
📈 Bias
Bearish as long as the price stays below the breakdown zone and the trendline.
📌 Key Highlights
Strong rejection from the major supply zone.
Clear trendline break, indicating a shift in structure.
Price currently hovering near ₹408–₹410 support.
Expecting a pullback before continuation.
🎯 Entry Plan (Breakdown + Retest)
🔽 Preferred Entry Model
1. Breakdown:
Price breaks below the minor structure at ₹406–₹408 with a strong bearish candle.
2. Retest:
Wait for price to pull back toward ₹408–₹410 (previous support → now resistance) OR a retest of the broken trendline.
3. Entry Trigger:
Enter short only after a bearish rejection (wick rejections / bearish engulfing / breakdown of retest low).
📍 Ideal Entry Zone:
₹400 – ₹403
🎯 Targets
TP1: ₹395
TP2: ₹382
Final Target (HTF Demand): ₹360 – ₹365
❌ Invalidation
Setup invalid if BEL reclaims ₹425 and sustains above the supply zone.
📈 Bias
Bearish as long as the price stays below the breakdown zone and the trendline.
Note
Wait for a clear breakdown candle.Trade closed: target reached
As per the plan Target Reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.