👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa...
• 1-2 -3 -4 (Running Currently) - 5th Wave Expected Upside.
• 4th Wave
o Unfolding as Triangle having last leg - "e" wave close to end.
o 4th Wave Triangles are "penultimate wave" means it is 2nd last wave & one more wave left in the structure which started from the lows of 1473 on 23rd / 25th March2020.
• Multiple Tops on lower degree have halted stock close in 2750-2777 zone
• Push Above 2780 – can take stock to new highs 2850/2950
• Careful at the Tops later as current geocosmic signs at the moment may trick you. Always be
cautious & false breakouts & breakdowns are common phenomenon in this period
• Risk Management is most important so traders...
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...