BHELBhel taken a support in trend line..... if we see next days positive candle confirmation, then it is good to consider.
BHEL trade ideas
wave countscycle: wave 1
Primary : wave 4
Intermediate : wave C
Minor : wave 5
Target zone for Minor 5
@49.55 : 100% extention of intermediate A from B top
@47.05 : 61.8% retracement of primary wave 3
@44.35 : 123.6% extention of intermediate A from B top
If price goes below 44.50 then it would invalidate this count,as wave 4 cannot enter wave 1 zone.
Confirmation Sign's for end of primary wave 4:
1)Further from here in the target zone box if we get a reversal candle in the form of hammer,bullish pericing,bullish engulfing
2)This should be followed by a close above it's high on the next day would suggest end of primary wave 4
3)Additional confirmation would be in the form of breach of upper channel band along with volume
4)An momentum divergence on RSI or MACD
5)Price crossing and closing above 10 day SMA.
If above scenario occurs one can get long with the closing stop of low made on the reversal candle in the target area box.Target for primary wave 5 on the upside through wave 1-3 extention from wave 4 low's is coming @ 72(38.2% extention) and 86(61.8% extention)
Impulse count or labelling shown here is done by following basic elliot wave impulse rules.
Out Look on Co-forge , Axis Bank, BHEL I have posted my view on these three as Two People have sent email as they are stuck heavy in them
So please view complete video to Understand the Guidelines
Good luck
Simple Trade Setup | BHEL | 20-08-2021NSE:BHEL
Observations:
1) On One Hour Time Frame, it just broke the trendline and closed above it.
Please refer Chart below: One Hour time frame.
2) On Daily time frame, it took support from the critical Zone bottom level.
Please refer Chart below: Daily time frame.
-------------------------------------
Trade Setup for Date 20-08-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and target w.r.t price action working near that level tomorrow.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Go long Bharat Heavy Electricals is an integrated power plant equipment manufacturer engaged in design, engineering, manufacture, erection, testing, commissioning and servicing of a wide range of products and services for the core sectors of the economy, viz. Power, transmission, Industry, Transportation, renewable Energy, Oil & Gas and Defence.
BHEL EQUITY levels ...20/08/2021 (W candle)BHEL EQUITY now in support level and its travel in Higher high...so once its closed 57 above at weekly candle ...it's move on...soon it's possible to reach 100 in long-term
Simple Trade Setup | BHEL | 09-08-2021NSE:BHEL
Here is simple trade setup for BHEL. Levels and chart are easy to understand.
Further if you see on daily time frame, it has formed inverted hammer pattern. So if on 09-08-2021, if it maintains the level and trade above 57.55/57.65 then it will be bullish. And if it fails to do so then it will continue it downward journey.
Do comment your doubt or suggestion.
My personal view is to wait for Monday to see how price action work and then jump in to the trade on either side.
BHEL LOOKS GOODbuy bhel range 53-53.50 target 55 sl 52 take small profit from here with strict stoploss ISHQ HAI TOH RISK HAI STOCK .... buy for 1-2 days target
[POSITIONAL] BHEL SHORT BET risk: Reward ratio is 1: 2
Rest as per Charts
********
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
=======
I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
=======
Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings.
********
BHEL ready to Go longBHEL is getting ready for a good swing by taking a trendline support and morning a proper Morning Star Pattern and also taking support of 200EMA.
Buy after 57.50
BHEL Swing Trade - Long - Aug Expiry 10% TargetBHEL Swing Trade - Long - Aug Expiry 10% Target
Why Long
- RSI Support taken @ 45
- Trading above 20 Days SMA
- Little increase consolidation on volumes at current level
- 20%+ fall already in the stock
- Did not perform in current Nifty rally
BHELDescription is in chart itself. As GOVT. is in mood of divestment in PSE/PSUs, If government takes action in upcoming weeks than it might give fuel to the rally.
Also would like add NIFTY PSE chart as well, It is also at very crucial levels.
If resistance is taken out in further weeks than we can see a rally in PSE stocks with BHEL being a favourable and a bet with a good risk-reward ratio.
Keep SL according to you risk appetite.
NSE:CNXPSE
ONLY FOR EDUCATIONAL PURPOSE. NO RECOMMENDATIONS
BHEL ON A WEEKLY TIME FRAMEBhel looks good to go for buy , as it has completed its 50% retracement on weekly time frame also took support on trend line as shown, and previously it also created Double bottom , as shown.
#Bhel cash : Looks for long term investment at 54 and 45#Bhel cash -Positional call for 1 year
11.08.2021
Looks good at 52-54
and add more at 44-45
Target 78-80 with 1 year view
(Plan ur investment)
Cmp 54.50
Close above 62 could be a good buying opportunity
Broken the resistance 0f 44
Trend reversal with heavy volumes
Stop of 60
Long aroundLong around 55-56 for tgt of 80-100-120 sl below 42. Just a view better seek professional advice.
Trend Reversal or Breakdown in BHEL? Currently BHEL is in no trading zone.
1) Buy if it gives weekly closing above the Demand/Supply zone i.e. 61 price level.
2) Short if it gives weekly closing below the zone i.e. 56 price level.
3) Currently it is very close to 200EMA on daily chart and it might take support from it.
4) Currently at very important 38% Fibonacci level
bhel 40 % in 6 monthsfor education only.
buy near 55 for target of 75.
its near its support at 55.lets see what will happen
BHEL - Inverted Head & ShouldersAn Inverted Head and Shoulder pattern is in the making. Looking to ride the pattern.
Good Risk Reward Counteras Technically
Taking trendline support + Last Breakout retest zone known as support zone as well as in Green
CMP 56.3
Bhel - buy Buy from 57.05 to 56.1
easy target 62
tg2 - 64
Disclaimer : This is my personal analysis for study purpose not intended for trading
