Looking at the daily chart of BHEL, you can see a simple price action pattern which is explained below. (OPEN CHART FOR DETAILED EXPLANATION)
Firstly, it is visible that BHEL has given a brilliant bull trend from December'20.
Presiding the uptrend, an accumulation phase can be seen and then a breakout form that phase caused the uptrend.
Now, according to price...
💢for risky players💢
enter @230-40 range
strict sl below 200🙏
trgt 258-275-300+🎯🎯
long 400+💰
is this Accumulation Or distribution?
🔹Fund houses/brokerage firms updating their trgt into 280-300-350 levels.
🔹Stock with good financial performance alongside good to expensive valuation.
🔹Strong Financial perfomance.
🔹Also the chart looks postive.
🔹Has been...
#NiftyMetal cmp 3743 tgt 3600-3500
sl above 3850
60min chart
#Wyckoff #Distribution #Bearish
Though this is not a typical text book distribution, but why to take risk.
NIFTY cmp 14771
1 hour chart
#Wyckoff #Distribution #Bearish
Though this is not a typical text book distribution, but why to take risk.
tgt 13700
sl above 14984
Reading the chart of Bank nifty 45 min. It seems like market is in bullish move , but what we are seeing might be a artificial markup. (Given US election tomorrow, we expect some bit of volatility, my take is the market will be more volatile on the day of results than tomorrow).
Position's are getting created here (Consolidation)
The people who have good knowledge of
derivative can say whether it is accumulation or distribution.
If accumulation it will go up
if distribution it will go down
I do not have good knowledge of derivatives
so I will wait for breakout.
Closely observe the charts. We have shown you the accumulation zone at the bottom in green colour and the distribution zone in red colour. Operator buys at the bottom and sells at the top with the price moving in the range. We are recommending sell as the distribution is about to complete. you see huge selling pressure on daily chart candles. it is sell on rally stock..
