salilgarga

BHEL: Bearish BAT?

Short
NSE:BHEL   BHARAT HEAVY ELECT
Refer chart
Trade active: Near target 1. Trailing stop to 52
Trade active: Target 1 done

Comments

very illogical for a bearish bat to function there needs to be RSI divergence as well as low volume on chart. instead there is big big green candles forming on bhel near 50 and there is signs of accumulation happening at higher levels in 50-56 range stock is getting ready to break out after 56 towards 70 rs you will see 70 rs in a month or 2 or 3 maybe
Reply
salilgarga Kakerot
@Kakerot, apart from the "illogical" comment; your analysis is correct. However, that does not mean the stock cannot correct more before moving to 60 or more.... It is also possible that it touches 60 and then corrects....
Reply
Kakerot salilgarga
@salilgarga, dont worry i am i dont trade in psus, but due to indian government initiative undervalued PSUs should be look for buy oppoertunity.
Reply
salilgarga Kakerot
@Kakerot, but this was a live trade for me. Had bought at 38 and booked profit after signal of reversal. Will buy again on reversal signal...
Reply
Kakerot salilgarga
@salilgarga, what app do you use for the signal of reversal or is it just your read?
Reply
salilgarga Kakerot
@Kakerot, my read of different technical signals...
Reply
salilgarga Kakerot
@Kakerot, Target 1 done. Now you can accumulate :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out