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

BHARAT HEAVY ELECTNSE

Description

⋅ Dec 29, 2020 3:16 PM

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

⋅ Jan 4, 2021 4:57 AM

Comments

shiv0110

⋅ Dec 29, 2020 9:14 PM

Well Inverse H&S is a reversal pattern and it requires a downtrend to reverse so this may not work as thought.

Trades69

⋅ Jan 20, 2021 6:24 PM

yo it worked , tgt hit 🥳🥳🥳

hemantdhonge

⋅ Dec 30, 2020 8:38 AM

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.