"BHEL - Looks Bearish." by trader SafeTrader1976 — published 2018-01-14

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Short

BHARAT HEAVY ELECT (NSE:BHEL)

NSE:BHEL BHARAT HEAVY ELECT

Parallel Channel Fibonacci Trend Lines

parallelchannel fibonacci trendline

Looks Bearish .
Moving in Channel.
Over Bought Zone.
At Resistance Level .
Risk Reward Favourable.
Can be Short till 105-107.
Positional View.
Please Consult Your Financial Advisor Before Taking Any Decission.
Other Details Mentioned in Chart.
I am not SEBI Registered Financial Advisor.

Trade closed: target reached: Low 95.70. Almost 1st target achieved. TSL as per comfort.

Trade closed: target reached: Low Made of 89. Almost All Targets Achieved.

hI i have shorted bhel at 105.10/- feb future /- should it go down to 100 level within fews days..
can i hold or exit..?

riteshtidke07

@riteshtidke07, Hi. Now 107 to be watched. You can keep SL above 107. I always TSL after once in profit.

SafeTrader1976

@safetradingviews, okay 107 will be my stop loss ,but sometime it went towards the stop loss level ,and suddenly it came down to days opening level

so shall i wait for some time above 107 -109 level

riteshtidke07

@riteshtidke07, OK. Today also it's near 105. I m telling about spot price. Please trade @ ur own risk.

SafeTrader1976

@safetradingviews, i have not exit yet from my shorts ..
still waiting for 100 levels ,market is in Upward direction but bhel doesnt show any movement ..morning it open high at 107.20 levels and then it started downward direction

riteshtidke07

@riteshtidke07, OK. As it's below 105, u can Keep SL above 107 spot. It's my view only.