BEL stock is in uptrend from past few years and currently, it has given a breakout from a trendline resistance.
I personally don't prefer breakout trading but the setup is looking nice above 104 with a small SL below 101.5 DCB.
Kindly trade as per your own analysis and consider this idea for educational purpose only.
BUY - DCX SYSTEMS LTD
CMP - Rs. 194
Target - 1: Rs. 240
Target - 2: Rs. 265
Target - 3: Rs. 295
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Technicals - Cup and Handle Pattern BO
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This is just a view by an expert analyst, please invest at your own risk.
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Follow up to earlier post
The set-up looks completed on lower TF (lower than Daily).
However, better confirmation will be on close below PDC.
Lets see how this develops...
Chart pattern insist me the above titled opinion
Reasons
1. BEL is in formation of a Inverted Cup & Handle (Handle in progress)
2. Lower high and Lower low formed (confirming bearishness) .
3. Gap b/w 15th & 16th Day candle can act as Strong resistance.
4. Target & SL levels mentioned @ Chart.
5. BEL may take support @ Green trendline (Major Support...
NSE:BEL is expected to break the range as it is heading towards 50 Day MA upwards.
Target 1 = INR 97.50
Target 2 = INR 101.55
Stop Loss = INR 93.65
The analysis is based on the Fibonacci numbers, MACD and other technical indicators involved.
Disclaimer : The following information is for educational and informational purposes only and should not be...
BEL has completed impulsive wave 5 at 258 and started declining for corrective formation.
BEL has completed corrective wave 5 of C of B at 250 . Now, BEL is forming lower degree's waves of wave C. If it sustains below 245 , BEL can fall for following support levels: 235 - 224 - 215.
Wave C can complete near 100 of wave A at 215 . It is called A=B .
I...
This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. ...
This is Daily timeframe.
BEL have retraced and now consolidating for last 4 days in a range, it rejected to go for lower levels last day.
MFI is at 21.77 level. There is a chance that is gives a bounce and continue it's rally.
From botttom to top, it is currently at 0.38 fibonacci level.
Keeping SL just above 0.61 fibo level.
Psychology behind trade and SL...
NSE:BEL
#BEL gave an entry at 245.50 (Breakout of Triangle Pattern) as per Chart given below
Now trading above Resistance 3 of 316
Next Resistance is at 365
Here are previous charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are...
This is follow-up on Bharat Electronics Ltd. Can check link to related ideas.
Target 5 achieved. More than 63%. Target 6 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered....
This is follow-up on Bharat Electronic. Can also check link to related ideas.
Resistance 6/Target 6 achieved. Resistance 7/Target 7 is ON as it is trading comfortably above resistance line of 278.05. Has moved more than 143% since breakout at 126.40.
Here are previous charts.
Chart is self explanatory. Entry, Resistances/Targets and Support/Trailing...
