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.
NSE:BHARATFORG
Observations:
1) On 1day time frame, it sustain above 50DMA.
50DMA is placed at 773.69.
Please refer below chart : 1 day Time Frame.
2) On 1day time frame, we can see the major support range is at 760-768 level range.
Please refer below chart : 1 hr Time Frame.
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Trade Setup for Date:...
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.
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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:...
BHARAT FORGE LOOKS A SELL NEAR 654 WITH STOP LOSS ABOVE 669 FOR TGT 1 : 633 TGT 2 : 618 TGT 3 :606.
Try to book on a risk reward of 1:2 and don't wait for the exact targets as market is very uncertain.
This post is for educational purpose only.
Disclaimer post: We are not sebi registered analyst, plz do your own analysis before investing. we are not responsible...
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.
![BHARATFORG: Simple Trade Setup | BHARATFORG | 22-11-2021 [ INTRADAY]](https://s3.tradingview.com/l/lEuZLQuV_mid.png "Simple Trade Setup | BHARATFORG | 22-11-2021 [ INTRADAY]")
