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!!
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.
bardevolved
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You showed downside target in the chart but wrote upside targets ?