Bhel is creating an amazing pattern Bhel is creating an amazing head and shoulders pattern with an upside of 130% this stock is financially and technically good
BHEL trade ideas
BHEL TREND ANALYSIS.BHEL can be good to buy around 56, if it sustains that level, please wait for retest before making any position and do consult your financial advisor before taking any financial decision.
BHEL Monthly Time Frame AnalysisBHEL Monthly Time Frame Analysis
Everything is written on the charts to summarise it
- Price broke out of Multi-Year Bearish trendline
- If a company start performing good can be a good multi-bagger again as it ATH around 2007
- Minor Red Rectangle is Minor Resistances
- Right now moving in an upward channel
-Next TGT 100
- Or it would just fall to major support again
Let see How it goes
*Not an investment idea just my views*
*If you need analysis for any equities feel free to leave me a comment*
BHEL - Elliott wave analysis # complete cycleBHEL is about to move higher from the current level (64).
First target : 80
Second target : 86
Third target: 95
Invalidate level : 59
It is an impulse from Oct'20 low and wave 5 is in progress. The projection of the wave 5 is mentioned above as targets.
I expect the up-move from Mar'20 is wave A of flat. Wave A is about to complete and then there may be retracement to below 30 level for wave B. From there we can expect strong up-trend to new high,
BHEL Trend Reversal with Double bottom at long term SupportAll observations on chart.
Stock is in bear market for many years. It formed a double bottom pattern, gave breakout with volumes & now there is a strong pullback.
Double bottom is trend reversal pattern preceded by down move. After pattern breakout trend reverses to up-move. Location of pattern is important, such patterns workout superbly when such pattern is formed at long-term supports or a strong support.
In Case of NSE:BHEL Double bottom pattern is formed at multi year supports check below.
BHEL This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk
BHEL Chart set up and viewBHEL
CMP 66.60
Observations
- Long term trend is up
- currently in short term down trend
- trading between 20 day EMA (in yellow) and 50 day EMA (blue)
- there was a big gap down on 14 June 2021
- that zone may act as resistance for some time
- thereafter the stock has struggled to get past the orange line around 69.60
- the yellow zone is where the stock has support zone
- buying may be considered around 56-59
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Trading Strategy
- on any further rise especially towards 69.50, if I see the price getting rejected, then I would consider selling
- if price gets rejected at 20 day EMA itself, I might consider selling OTM Call options
- I would consider buying if the stock comes towards the yellow zone
Take care & safe trading...!!!
Ready to move upRange and volume contraction after long bullish candle are indicating of probable upmove. 61 should hold on DCB for upmove towards recent new high.
I have position in stock.
Disc : it's not an investment advice to buy or sell
#86 THUNDER WILL FEEL THE THUNDER#86 (GENIE IDEAS): I will daily post intraday/swing/positional trading opportunities so u can analyse and get the most from it. if you like my analysis do like and follow me as a token of appreciation. And if you have any queries let me know.
Leave a comment that is helpful or encouraging.
BHEL TOWARDS 80 CONSOLIDATION AT 0.38 FIB AND NOW WE CAN SEE UPWARD MOVEMENT
THIS IDEA IS FOR EDUCATION PURPOSE ONLY .PLEASE TRADE CAREFULLY AT OWN RISK .
BUY BHEL TARGET 80Buy bhel for a target 80 short term.
Stock under consolidation. Expect breakout soon.
Those who have must hold on.
BHEL - - Rectangular Channel BORectangular Channel BO
Rectangle channel patterns are formed by price action between two key trendlines bound by multiple equal (near) highs and lows. The duration of the pattern can be a few days to months. Longer duration patterns are considered to be more reliable. The volume inside the pattern is non-decisive, but volume tends to increase during the breakouts.
Trade: Trade setup occurs when price closes outside the trendline (upper or lower) at least two bars signalling a breakout. Trades are entered on a follow-up bar at high above the breakout bar. possible targets - 70/72
Target: Targets in rectangle channel formations are based on the depth of the rectangle pattern. Targets are usually set at 70% to 100% of the depth of rectangle from the trade entry OR 7% to 10% form the BO price.
Stop: Rectangle patterns fail when prices retrace into the middle of the rectangle channel. Place a stop order just below the middle of the channel. In our case, it could be 64.5.
MACD
MACD line is greater than signal line which shows bullishness in future.
Volume
Huge volume spike can be seen that indicates bulls are on upper hand.
BHEL LOOKING BULLISHBUY BHEL AT CMP FOR 71 LEVELS. 1) TRIANGLE PATTERN BREAKOUT 2) BULLISH MARKET STRUCTURE 3) TRADING ABOVE ALL SMAs.
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