BEL - A perfect breakout for target of 165-175The stock has given a Head & shoulder BO near 120 levels and then came back for retesting its BO levels and now heading towards 165-175.
BEL trade ideas
BUYConsolidated over long period
Don't wait for breakout of channel
Structure looks strong
Long Volume bars
Cheap to buy on good valuation
BEL- daily chartAnalysis based on Trend line and Fibo.
Already made W pattern.
Short target1 - 165
T2- 179
My ideas on BEOLook at the channel pattern.
Buy if opens above 158.set stop at 152
Safe players can enter above162
BEL Is showing cup pattern, if sustain above 155/- level it can target for 180 to 190 levels very soon.
BEL - Support taken at 50% fib ratioBEL has taken support at the 50% fib ratio and now might consolidate near the demand zone before giving a breakout.
The new breakout movement in BEL!Earlier my idea on NSE:BEL was slightly bullish but as it has clearly broken out of a perspective I drew on chart of BEL previously, it shows BEL will keep moving UP!
Bullish sentiments well in place now.
BEL breakout is confirm?BEL breakout is confirm or not we can't say. but still i am bullish because of chart patterns
concern area
1. RSI
2. Results
Iske to Lagne wale h BhavThe stock is showing similar pattern of sideways movement and may be a respective fall. As the median line of the Bollinger Band of 21 period line from the above of 55 EMA. We can witness the same pattern from 29/09/2020 till 14/12/2020. The RS is also going flatten despite the green candle with a 2 day volume. Its trading near to its support levels.
BEL May give breaks out based on CUP&Handle pattern-24% ReturnBEL has formed CUP in uptrend, if properly consolidates in the range of 145~155 in order to form handle in next few days and gives a breakout above 155 with good volumes,next target 190 can be achieved.
The price has turned up after double top formation & price correction and RSI taking support at 60.
SL can be taken 140, Risk to Reward 1:2.
Entry to be taken only if above handle formation and breaks out happen.
BEL ( For Education Purpose Only ) : BULLISH TRENDBEL seems in a bullish trend with a breakout from inverted head and shoulders pattern. (as well as a W pattern)
One can buy BEL for a short term target of minimum 180.
And 160 target for a swing trade.
The major strong support is around 121-122, you can use this as a stoploss.
Rest have a look at the chart you'll understand well.
Please consult your financial advisor before buying the stock.
BEL LongCMP: 138. Breakout with Volumes, RSI on Daily,Weekly & Monthly above 60. Target 155 - 190.
Key risks: Max Pain is bearish at 130 and PCR is 0.42
Key Levels to watch for: Rs 140, 146
