BHEL
bhel breakout on weekly charts has given 13% returns yetbhel breakout on weekly time frame broke the resistance with good volume plus rsi and macd gave bullish signals as well ass moving averages .
BHEL - Looking a Good Stock to BuyBHEL looking good candidate for Buy Side if sustains above 48-49. This call is on Short-Term basis
INTRADAY - BHEL above 52BHEL seems to have formed a rounding bottom in 15 min TF. Looks good above 52
BuyBuy for long term with stop loss below 26 for target 5-8 times of risk.
Short term stop loss will be on close below 35.
Long term EMA has started trending up. Price is abv all EMA . Inverted H&S breakout on weekly chart. Higher top higher bottom started .
buy if a weekly candle close above 49 it is in uptrend on weekly, monthly , daily chart and stock is at 52 W high or
you can wait for correction then take long position
BHEL : Bullish breakoutafter a long consolidation, stock has given a breakout & is ready to move towards 50/55 target area. Stop loss should be below 44.
BHEL for swing..from 35 to 43bhel is in a proper channel and waiting for
swing opportunity watch rhe level 35 and place target on 50 sl on 32.and watch MACD BREAKOUT
Bhel Multiple Year Resistance Break Out Bhel Has Given Break Out After Testing For Multiple Years almost 3 years,If It Sustained Above Bhooms it's Going To be Rocket!!
Please Let me Know Your Valuable Feed Back For My Analysis!
bhel swing trade bhel swing trade if break resistance than tgt 1 after close above tgt 1 tgt 2 possible then tgt 3 if close above tgt 2
BHEL Chart Analysis1. BHEL took support at the levels of 42.0 to 42.30 in October 2019. These were pre - Covid times.
2. BHEL took support at the same levels of 42.0 to 42.30 in the 1st week of Jan 2020. Again, the market has not yet started responding to the Covid pandemic.
The support was finally broken in February and BHEL reached the levels of 19.20. From there it made a reversal and entered into an UPTREND.
3. The previous support at 42.0 became a Resistance. The breakout failed. Notice the volume. It was above average but BHEL has shown higher volumes when it was recovering from the Covid Lows.
4. Again the stock failed to cross the level of 42.0 forming a DOUBLE TOP.
5.The stock then fell down to the Double Top Confirmation Line . The price behavior (wick rejections and selling pressure) here suggested that the fall was to continue.
The price fell down to form a DOUBLE BOTTOM. The Double Bottom Confirmation Line was breached and the stock entered into an UPTREND on the daily chart.
6. The price has now started forming an upward Trend Line.
7. Again a breakout (with above-average volume) from the level of 42.0 failed on 8th February 2021.
Now, the range for price movement is tightening due to the resistance at 42.0 and the trendline support. I have observed that the breakout (either way) occurs at the levels where the resistance and the trendline coincides. Let us see how it unfolds. The levels which would act as Resistance or Support when the breakout is successful is marked on the chart with Red and Green lines respectively. These levels can also be used as intermittent targets to trade.
Since I am a new trader, kindly mention anything that I have misinterpreted or have missed.
H&SBhel has broken out from inverse H&S pattern . Volume and candle , both are good on breakout. Weekly close above 45 will start higher top higher bottom structure and turn the trend to bullish. Risk can be also taken if it gives daily close abv 45 with volume.
As of now SL is 26 for H&S but once it closes abv 45 then SL will be 34 on daily closing basis. TGT will be 61 and 80
Disc : I have position in stock. It's not an investment advice to buy or sell
BHEL buy , Technical analysisI will buy BHEL because :
It has been taking support at the trend line .
It has touched the support.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 35
Target : 40.8/42.1/43.7
Stop loss : 32.6
