Inverse Head & shoulders in BHEL.

Jul 25, 2023

We can see on the weekly timeframe, the stock has been consolidating for two years, forming an Inverse Head and Shoulders pattern.

On the daily timeframe, there's a breakout with a smaller candle above the Neckline. However, there's a possibility of a fakeout, so we'll wait for a strong confirmation.

We'll enter the trade only when there's a bigger green candle than the previous one and should sustain above the line as that would be our trigger.

If the trigger is met, we can consider going long on the stock. Our target would be to achieve more than a 15% gain, while setting a stop loss at 8% to manage potential risks.

Buy- 102
Target- 120
Stoploss- 94

Note- I am not SEBI registered, Please consult your adviser before Investing.

Jul 27, 2023

Trade active

Wow, this trade is going exactly as we discussed earlier! Our entry has been triggered, and now we just need to wait for the targets. Remember to set the stop loss too, as unexpected things can happen in the market.

Sep 1, 2023

Trade closed: target reached

This stock is a gem, aligning perfectly with our prestigious Chandrayaan-3 mission. Yesterday, it achieved its initial target, and today it is up by 7%. We can consider holding this stock for the long term.

Interesting Fact: For those who do not know this stock has also contributed in chandrayaan-3 mission.