BHEL - BULLISH or BEARISH? Crab or Gartley?
CMP: 252.5
TF: Daily
Observations:
- Price has broken Swing low at 224 and bouncing up in three wave structure
- Price is trading below the rising channel/trendline
- Price has negated the LH-LL structure by breaking the 249.2 high.. but the larger LH is still intact at 290 levels
- UNFILLED GAP at 236
- Price has just reclaimed 200 DEMA
- Price is still trading below the Cloud.. Cloud resistance is placed at 260
- SuperTrend is at 260
- Price is still trading below the falling trendline (connecting 327 and 291)
I have marked both of the Harmonic pattern possibilities that meets the criteria
- Gartley - The RED one.. target is placed at 261
- CRAB - Target is at 320
In my view, Price has a huge supply at 265-270 levels..
Price is now trading in the range of 200 to 270 band.. use the extreme ends for LOW Risk trades
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
TF: Daily
Observations:
- Price has broken Swing low at 224 and bouncing up in three wave structure
- Price is trading below the rising channel/trendline
- Price has negated the LH-LL structure by breaking the 249.2 high.. but the larger LH is still intact at 290 levels
- UNFILLED GAP at 236
- Price has just reclaimed 200 DEMA
- Price is still trading below the Cloud.. Cloud resistance is placed at 260
- SuperTrend is at 260
- Price is still trading below the falling trendline (connecting 327 and 291)
I have marked both of the Harmonic pattern possibilities that meets the criteria
- Gartley - The RED one.. target is placed at 261
- CRAB - Target is at 320
In my view, Price has a huge supply at 265-270 levels..
Price is now trading in the range of 200 to 270 band.. use the extreme ends for LOW Risk trades
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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