BHEL - A risk reward trade

Jun 14, 2021

BHEL is expected to announce it's quarter results today.. The stock opened gap down in the morning by over 10% and is still trading negative but the current close is much above the low of the day made. Should the results be favorable, the stock can fill the gap and give some nice move up. The low of the day tested the 50% Fib retracement level and has bounced off from there..

Jun 14, 2021

Order cancelled

Tradingview gave a wrong information that the result is due on 14th June whereas I later learnt from NSE website that the results has already been announced on 12th June. So perhaps, to a large extent the gap down open today might be in part the market's reaction to the results. Hence, considering this as closed..

Lesson learnt: Verify the corporate action information shown in TradingView with NSE website.. :(