BHEL#BHEL
The company has just posted stellar earning this quarter, we have got a positive earning from the company after 5 consecutive negative earnings. The stock price of the company is still down 30 percent from its highs.
I fundamentally believe in the sectors the company is working on and after strong financial result this quarter BHEL has turned a buy on dips for me. I had previously shared a long term investment analysis on BHEL, if you already have a position on BHEL higher than its price currently I would suggest averaging.
BHEL still seems like a bullish investment opportunity for the future. Average at :
1) 230
2) Buy on every 5 to 10 percent dip.
Nearest target of *330.
Bhelanalysis
BHEL Analysis(W Pattern)!BHEL Daily Analysis/b]
Double Bottom (W) Pattern formation in BHEL
Will it move as per Double Bottom Pattern Analysis? Will See!!
BHEL has made double bottom pattern on Daily Timeframe and also it has given neckline breakout 79.85 with good volume and successfully able to close above it. BHEL is trading above 50 EMA which is also a confirmation of bullish trend.
Trading Psychology and Setup =
Entry = Entry will be between 80-82
Target = Target 1 will be 87.60 which is also a 1.618 fib level and will acts like a possible resistance and 2nd will be 95.50
Stop Loss = Below 76.75
Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
BHEL ANALYSISBHEL is in good uptrend.
it is forming an ascending triangle pattern with higher lows which is good sign of an uptrend!
Long opportunities can be seen at the levels of 84-85 if this level breaks further upside can be seen in the stock!
do keep this stock in your watchlist
if the ascending triangle is broken on the downside trend is assumed to be reversed.
BHEL - BREAKOUT TRADEBhel NSE:BHEL
Trading at monthly high and also breaking above trendline resistance zone it seems this stock has potential to retrace back to old highs . Buying can be done with stop loss
Do Comment , share and "LIKE" if you find this info valuable to use . Believe me it takes lot of time to visualize the market before the opening bell :)
Happy Hunting ,
Chintamani
Disclaimer.
I am not SEBI registered analyst.
My studies are for educational & General purpose only.
Please Consult your financial advisor if you have plans of trading or investing.
You yourself hold sole responsibility of profits and your losses arising of above shared info
Bharat Heavy Electricals Ltd. (BHEL) Break Out Trade OpportunityDate : 6-Apr-2022
Rating: Buy
LTP : Rs. 56.75
Target: Rs. 66-->80-->90
SL : 47
BHEL has given a break out from its secondary down trend within primary up tread as well as from its long term resistance level of 56 with increased volume. 7D EMA has crossed over 13D and 26D EMA. MACD cross over is already done and now its showing good strength for a bull run. RSI is at 65 and has shown positive convergence.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.