Those who have not read our report published on 9th April, please go through report appended below. We had told to buy Bhel below 70 with stop loss below 58 for target of 100% return. Counter first touched 70, then moved to 79 and then touched 59 last couple of days back. Logic was to buy position below 60 ( multiple support zone as shown by arrow) but it had...
BHEL Daily Bullish Structure Breakout and on monthly Outside Candle Breakout. Expecting Immediate Target till KS at 88.9
Strong close above KS would also mean structural change to bullish from bearish on Monthly TF. In that would be good Investment pick for Huge Upside. Buy CMP and Accumulate on Dips with CBSL 56
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.