See the hammer on chart
Also note Stochastic K line almost crossing D line
Watch price action for few days
Looks like a weak flag pattern too - vertical line + rectangle
in daily, price bounced from ascending channel support after forming hammer. hidden bullish divergence seen here https://in.tradingview.com/x/aVN3rO4W/
sl - 579, tgt1 - 645, tgt2 - 680
in weekly, hammer formed at horizontal support
also hidden bullish divergence seen in weekly, https://in.tradingview.com/x/wFBkiMrd/
in daily, regular bullish divergence seen https://in.tradingview.com/x/knU9fi9p/
sl - 193 tgt1 - 220, tgt2 - 250
In weekly, hammer formed at horizontal support.
In daily, regular bullish divergence is seen. https://in.tradingview.com/x/s49OTYk1/
sl - 1126 tgt - 1400
In longer time frame it is in strong uptrend.
In daily, hammer formed near ascending channel support.
with a sl below the channel support, one may aim for previous swing high, then channel resistance.
in weekly - it is forming staircase pattern, it is reversed from the support,
in monthly - round bottom is formed and breakout already happened. https://in.tradingview.com/x/yzDXZwiI/
sl - 260 (below horizontal support) 1st tgt - 342, 2nd tgt - 390
in weekly it is in strong uptrend,
in daily, hammer formed at uptrend channel support + horizontal support, price should reverse and go up from here.
sl - 1573, 1st tgt - 1732, tgt2 - 1800
BHEL is currently at 136 levels in downtrend...
Trend reversals signals :
Postitive RSI Divergance, Bullish Hammer and Bullish Engulfing Candlestick Pattern indicates that strong uptrend trend will start..
Targets are 140/147/155/168+
SL :130
Risk Reward is favourable..
Note: Do your own study before making any positions...
It is been observed on daily chart that the price action forms a Hammer candlestick at the support levels where price action was picked up from the day's low to end near the high or open of the day, indicating a bullish come back at crucial support levels. Now, it shall turn up to around 61 levels which is 23.6% Fibs retracement levels.
Target: 61
Stoploss: ...
Today, the price action took the prices to the previous support level of 47.45 where the buyers entered in the market and took the prices up again to close to day's open. It formed a bullish hammer that indicates rejection of lower prices and high buying pressure. To confirm this formation we shall see a green upside candlestick aiming to reach 53 levels which is ...
