NSE:BHEL   BHARAT HEAVY ELECT
I previously posted an idea to short BHEL only IF it breaks the marked distribution phase from the lower band. If you see the description of the previous idea on BHEL , you can see that I have written there that ONE MAY LOOK FOR BUYING OPPORTUNITIES IF IT GIVES A BREAKOUT FROM THE UPPER SIDE OF THE RECTANGLE .

And here we are Today Bhel gave a good breakout form the upper range. And hence, as suggested before, one may look for buying opportunities now and we will now treat this distribution phase as RE-ACCUMULATION PHASE!!

LEVELS: (Based on weekly charts

ENTRY: Buy above 81 (on closing basis)
Target 1: 100
Target 2: 108
Target 3: 119

STOP LOSS: 73
TRAIL STOP LOSS

I would recommend going long on BHEL with above levels ONLY

FOLLOW IF YOU LIKE THE ANALYSIS
LIKE AND COMMENT WHAT YOU THINK ABOUT THIS!!

THANKS

Comments

Hey! actually this is in continuation to a different BHEL idea where I explained two possible price movements. You must go and check for that idea on my profile. It is titled as 'BHEL SHORT'. Read ita explanation and do not miss out its comments. You will surely get a better clarity behind this idea. Please let me know if there is still something in your mind.
Reply
You showed downside target in the chart but wrote upside targets ?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter