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
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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
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11:13 Hrs 18th Jan2017
Last Price@133. 30
Done & Out at 133
Comments
AMBRISH
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Congrats,
anupminj7
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GOOD ONE
ms555
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Sir, Do u see shorting OMC's a good bet as crude oil is surging ?
WaveTalks
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@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.