BHEL: Moving Average Play


Similar to Nifty view and trading strategy, BHEL can be looked at from Moving Average angle.

- stock is trading above 20 day EMA and
- today has managed to closed above it's 50 day EMA

Based on Moving Average play, Short term target potential: test of 200 day EMA (around 54.8 to 55.05)

Closing above that could open doors for further up movement towards 58.2 / 61.50

F&O trading strategy

Given the set up, One may consider to sell 30 June expiry 50 Put option

SL for Equity as well as F&O trade: if BHEL closes below 50 on daily charts

Set up provides good Risk::Reward ratio to go long

Take care & safe trading...!!!
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- The view expressed here is my personal view
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