BEL trade ideas
BHARAT ELECTRONICS (NSE:BEL)This particularly, is a very good stock to buy as per my study
With a good combination of technical and fundamental indications this looks a good stock.
Technical aspects:-
Trendline (Uptrend)
Dynamic support of averages in multiple time frames
Retracement levels From 0.618
Breaking a resistance.
Fundamental Aspects:-
Market Cap:-33200cr
PE:- 18.5
pros:-
Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 38.45%
Cons:-
Company has high debtors of 189.26 days.
Promoter holding has decreased over last 3 years: -15.58%
Bharat electrical ltd ,,,,BELbuying rang 120-125,,,,let rsi @60 and bounce back forming bullish candle with rising volume
Change in the Structure We are looking change in the Structure based on last 2 days move in the scrip ,
My previous view was contained with in the channel but now i am looking it might be developing New Move where the identify and pattern will change
Now I am looking this as a W X Y move a three wave move down sub divided in the secondary countable moves with in them ,
One can expect a side way consolidation before it makes one more move up , its time based correction one can wait or trade with in upcoming visual trend
Good luck
BEL looking very bullish the next few weeks- The Fibonacci ext. shows a target of 1.618, i.e. around 170. Usually, movement of price to 1.618 is faster than the rest of the levels.
- BEL trades in an uptrend.
- It broke yearly resistance (in Jan 2021) and is now showing more upward movement.
Buy now and sell at 146 for swing trade and ~170 for positional.
Thank you.
BEL Long Trade (Trendline Support)Based on the price action at the trendline support, a Long trade may be planned. The previous High can be set as the short term target. If the price goes higher than the previous High then trailing Stop Loss can be used to maximize the gains. This is easier said than done. I am the absolute worst at trailing the Stop Loss :). But practice !!!
BELBEL recently broke out from long term resistance zone, and finished retrace... Now trying to get support from trend line
BEL | High probable INHS pattern - Looks good for 40%BEL | High probable INHS pattern - Looks good for 40%
CMP : 136 (Can buy in dip upto 125)
SL : 115
Target : 190
Trade is ON in Bharat Electronics (Target 1 Achieved)...This is follow-up on Orient Electric. Can check link to related ideas.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
BEL managed to reach first targetBEL is facing a little resistance at the first target. If crosses and sustains then it can move further up. Keep a watch on this. Visit previous chart in the link below.
BEL ready to launch missile : watch outBEL :- Some key points. All moving average +Ve
Today it managed to break 140.50 rs which was previous high made 2nd week Jan 2021 and faced resistance there. This time volume of day's candle exceeds that days' candle.
Jan OI had max Call writing on 140, and this Feb too it had max call writing but today -15% call writers left the positions..
Stock is heading for TGT of 145 & 150 in a missile like take off. Good that in last 4 days it created new lows..... so it has spring under the boots.
SL below Trendline. Enjoyyy
BEL CONTINUATIONInverse H & S pattern has been formed in Daily chart .
Above 122 breakout possible .
Already breakout done.
I'm just changing the level
Now TGT 139.60/146.45/158.2
Sl 124.2
Disclaimer: Ideas for learning Only.
Learn Regularly. NOT Occasionally.
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Pullback & SupportStock seems like taking support after breakout, look in weekly TF for better picture.
Bel go for longBel go for long position after breakout of trend line
only for positional traders
happy trading....
