BHEL - broke and sustaining important weekly level of 57.15

May 10, 2021

BHEL - broke and sustaining important weekly level of 57.15, Good volume also seen on daily chart

Entry – CMP or around 60 (if Pull back happens)
Stop loss – 50.35 (Trailing Stop 58.7 after Price gives a run up)
Target 1 - 103.45
Target 2 - 195.7
Duration - 2-4years
Small resistance around 59.6 (Crossed and Sustained)
Strict Trailing Stop loss will be required for this stock, going forward.
All numbers are *weekly*based

Company is engaged in custom equipment manufacturing.
Co has lost lots of contacts in past hence same is trading at very cheap discount.
PB - 0.82x
Debt - 0.18x
Since Co is struggling in their top line there bottom line has also struggled.

This is pure technical call. If stock managed to cross the mentioned level then a lot of upside is possible.
Volume Accumulation is seen in last 9-10 months.

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Jun 19, 2021

Note

New Weekly Stop loss : 65

Lower Lows are getting created on Daily Chart. Broke Trailing SL can think of Profit booking on Monday if Bearishness continues.

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Jun 30, 2021

Trade closed manually

booked profits in BHEL Trading around its Stop loss area + New bullishness will be above 74 only

Will repost if something interesting in BHEL happens

Disc. : Views Shared for Education Purpose only. Consult your Financial Advisor before taking any position.
Please like Share and Comment if you like our work.