BHEL has bounced from the long term support of 58-60 range. We saw 100% + return when it touched the same level last time. It has also bounced this time with moving average crossover on all time frames. It has also broken out of long term resistance line. Long term traders can accumulate below 70 with stop loss of 58 for 100% return in 12-18 months time....
Bhel is back to retest it's trendline BO levels. Supported by bullish signals on ichimoku cloud, the risk reward looks more favorable for going long in bhel.
One can buy BHEL @ 71-72.50 Levels with stop below 70 on daily closing basis and targets of 78-80-82.
Safe traders may look for 76 as partial or full profit booking zone.
Sell Bhel with SL of 63.6 and target off 61.05 - Intraday.
Adjust trading volumes as per entry price.
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BHEL should be making some bullish move in the coming week if nifty does not do anything silly.
ideally I would recommend to buy the breakout and trade accordingly with momentum.
all the best and do share your opinion in comments.
BHEL is a buy on NSE as it has traded with 4x volumes on NSE on Friday. With a clear and crisp breakout above the lower trading line. A revisit to lower trend-line is not ruled out. Hence purchase BHEL at around 78.45 with Stop-loss of 75.45 and Target of 84.45
Following are the 10 flags formed on the hourly timeframe .After a good rally last week creating long poles, yesterday's pullback created the flags.
Well there are lot of people coz they are THE PUBLIC of The REPUBLIC
TECHM - Hourly