TradZoo

Inverse Head and Shoulder Pattern in BHEL for target of 40+

Long
NSE:BHEL   BHARAT HEAVY ELECT
In today's session, BHEL breakout the inverse head and shoulder pattern. As well as its trading above 200 DEMA . It's indicating a strong bullish move in this stock for a short term. In the upcoming few trading session, we can expect a target of 40+ in this stock. Can go long for a target of 40+ with nearest stop loss at 34.30. Near 35.50 is a good entry position in this trade to get a good risk-reward.

Possible Trade:
Buy BHEL above 35.50
Stop-loss 34.30
Target 40+
Trade closed: target reached
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Comments

Well Inverse H&S is a reversal pattern and it requires a downtrend to reverse so this may not work as thought.
+5 Reply
yo it worked , tgt hit 🥳🥳🥳
Reply
Don't buy until crosses 37 after that lots of resistance available very difficult to break; in case of any news by gov in budgets.
Reply
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