Bharat Electronics- Weekly/ Swing/ Positional Idea
- Near Breakout level
- Risk Management
- Position Sizing
Bharatelectronics
CPSE index looks bullishCPSE index has broken the double bottom pattern with a huge volume marking it bullish, moreover it did not participate in recent bull Run.
So BEL, GAIL, SAIL, CONCOR might give gd return in coming weeks. One can look for CPSE ETF also for some quick returns in coing days
BEL FOUND "HEAD & SHOULDER" ON WEEKLY CHARTPay your attention on BEL in coming days, Weekly Close Above The Neck Line Will Create Big Shoot Up..
BEL96 will act as good support and 121 as a target. Let it correct and can go long around 100 for a positional trade. All views are personal for educational purpose and do consult your financial advisor.
Bharat Electronics BEL in Fourth Elliott waveBEL broken out of contracting triangle and moved like a rocket. Currently in 4th Elliott wave which is corrective in nature. All bonce towards 99 short opportunity with SL 100.2 target 96.4, 95.3, 91.7, 90.90
Disclaimer: All levels pointed on chart are forecast based on mathematical Calculations or chart based technical analysis which may or may not true. This analysis may not be suitable for all investors consult with your financial advisors before investing.
BEL - W pattern bullish breakoutNote: This is for educational purpose only.
There seems to be a W pattern breakout in BEL with high buying volume. RSI in daily chart is above 80 so there would be some consolidation before further upmove.
#BEL can buy for 10% @in_tradingviewNSE:BEL
Bharat Electronics buy now
in range of 109 112
sl 106
T 116 119 125
BEL study (multi year channel)1) BEL has been trading within a channel since late 2014
2) Current week candle has broken the channel median line and trading below 26 week simple moving average
3) Could test the channel bottom.135-140 zone could be important support.
Looking forward to buying after bounce at channel bottom
Another long opportunity in BELBharat Electronics has completed an A-B-C flat correction (refer to the link attached of previous post on BEL) and is headed for all time highs. If you missed the first long opportunity, then can enter again.
