Bharat Forge on 4-Hourly Chart looks bullish ass trendline breakout is seen at 698- 700, Not Stock Trading at 705, I am entering the Stock for the Swing trade around CMP 705 Expecting Targets of 750 and will place stoploss below yesterday's Low at 680.
Bharat Forge Ltd - 03.06.2022
The stock is trading @ 659 levels
There is a SUPPORT Zone @ 653 levels
The prices are below EMA
Let the prices go above 678
Watch out for the price action
I hope you can now see how Bharatforg represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
NSE:BHARATFORG
Observations:
1) On Daily Time frame you can see that it has already closed above 21DMA.
Please refer below chart : Daily time frame.
-------------------------------------
For POSITIONAL trade one can take long position from CMP as well as any dip above 760 level will be good buying opportunity. SL will be...
NSE:BHARATFORG
Observations:
1) On Daily time frame it took resistance from 21DMA which is placed near 775 level.
Please refer below chart : Daily time frame.
2) On 1 hour time frame we can see that major resistance is at 780 and major support is at 719. Any dip above 719 will be buying opportunity for positional trade.
Please refer below chart:...
Buy if sustains above 601 for the targets of 612, 622, and 632 until 589 is saved on the downside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
It broke 2 YEAR OLD TRENDLINE & RETESTED DONE,
It, also broke INVERTED HEAD & SHOULDER NECK-LINE.
If Resistance Breaks, Then Next Possible Target Is 670 !
NOTE: THIS ANALYSIS BASED ON 1 WEEK TIME FRAME)
Feel Free To Ask For Any Technical/Fundamental Query
Comment Down Below
Educational Purpose Only !
Note: This is for educational purpose only.
There seems to be an Inverse Head & Shoulder pattern breakout with good volume. Moreover, RSI above 65 indicates bullish momentum.
Bharatforge gave BO on 13 Aug, since that it has been consolidating. Looking at the chart structure it may give BO. Buy would be recommended above 515 for the target 530.
