Bhel 2016 Diary- In the Right Shoulder- Making the neck line

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In last last update- bulls can be interested in buying this stock unless 113.75 is broken- should look as a buying opportunity- we are in the right shoulder & making of a neckline.

Trading Strategy
Once H&S is formed - breaking 116.10 & 113.75 (Neckline)- You all know Bhel             will become spicy for bulls.

This is how we moved in 2016

In the charts below -click & use load bar feature

Strategy-2 works

Above 146 for 163-New High- Failed at 146-147

Bears happy below 146

Trade active: 20:06 Hrs 9th Jan2016

Closing Price@127.75

Heading close to zone of 132-133 where right shoulder gets completed.
Trade closed: target reached: 11:13 Hrs 18th Jan2017

Last Price@133. 30

Done & Out at 133
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Sir, Do u see shorting OMC's a good bet as crude oil is surging ?
@ms555, drawing co-relations from related instruments are tough, sometimes it works well & other times it won't. Intermarket relations are just for support & not a primary decision tool.
thanks, it will go up to 133.15 (Right Shoulder)?
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