BHEL HARMONIC VIEW HOURLY TFCMP 152.25 SELLING ZONE 150-54 SL 159 TGTs 134/22/114 (Positional View Daily TF)
BHEL trade ideas
Amazing breakout on Weekly / Daily Timeframe - BHELCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!!
#No complicated chart patterns
#No big big indicators
#No Excel sheet or number magics
BHEL is ready to fly to next BO zone!
BHEL SWING TRADEBHEL embarked on a robust uptrend post-June 2022, surging by an impressive 100%. However, after this remarkable rally, it underwent a consolidation phase, retracing by 28%. During April 2023, it formed a compelling double bottom pattern, signaling a potential trend reversal.
The stock exhibited a notable breakout with a surge in volume over 100 days, propelling it upwards by 20% in a decisive rally. Revisiting its double bottom pattern high, BHEL displayed strength by initiating another clean rally, marking an additional gain of almost 30%. This rally broke the lower low lower high pattern, indicating a shift in momentum towards a sustained uptrend.
As the uptrend persisted, BHEL established a demand zone, later breached by a hammer candle accompanied by a breakout in volume. This breach marked a crucial moment as it shattered a significant 6-year resistance level with a strong volume candle. Following a retest of this long-standing resistance, BHEL surged past its recent high with a staggering 40% surge in volume.
Currently, the stock appears robust, showcasing signs of strength, indicating a potential target around the 200 mark. Short-term projections foresee a possible uptrend reaching the 170 to 180 price range, suggesting a potential 20% gain within a few weeks.
However, as it approaches its own 8-year high price, a slowdown in momentum might occur, as this level could present a significant resistance point. Breaking through this barrier would signal a monumental achievement, yet it might require a more prolonged and sustained effort.
ENTRY PRICE ABOVE 150
STOP LOSS BELOW 135
TARGET 180-200
The narrative provided is for informational purposes only and does not constitute financial advice or a recommendation to buy, sell, or hold any securities. It is not intended as a substitute for professional financial guidance or personalized investment advice.
The analysis outlined is based on historical price movements, technical patterns, and hypothetical projections. However, the stock market is inherently unpredictable, subject to volatility, and influenced by numerous unpredictable factors, including economic conditions, market sentiment, geopolitical events, and company-specific news.
It's important to acknowledge that investing or trading in stocks carries inherent risks, and past performance is not indicative of future results. The outlined scenarios and projections are speculative and may not materialize as expected.
Resistance Breakout - BHELPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking for long term.
BHEL BEARISH AB=CD PATTERN IN DAILY TFCMP 141.85 SELLING ZONE AROND 145-41 SL 147.60 TGTs 132.5/22/13.5 ( Positional Vew )
BHEL Short Term TradeOn a 4 hrly chart,
Resistance area around 134 has been broken
The breakout candle has a high volume and negligible wicks
A small cup and handle pattern has been formed taking the 134 level as neckline
Also there is a visible rise in atr on and after breakout
For a Short Term Trade , tgt = 148, sl = 130
$NSE:BHEL Will BHEL go up in the next trading session ?NSE:BHEL Will BHEL go up in the next trading session. Update your thoughts in comments
Ignore if huge gap down or gap up.
Follow strict stop loss.
Disclaimer:
This is not a financial, investment or trade advice. Its only for educational purpose.
Resistance Breakout - BHELPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking for long term.
Breakout of inverse head & shoulder patternStock has breached neckline of H&S pattern. Buy at retest around 133. SL @ 130 closing basis.
Multi-Year and Cup Pattern with Weekly Retest and Daily Trendlin- **Multi-Year Breakout and Cup Pattern (Weekly):**
- The stock experienced a significant breakout covering multiple years on the weekly chart.
- Additionally, a cup pattern breakout occurred, indicating a potential bullish reversal.
- **Volume Confirmation:**
- Both breakouts were accompanied by substantial trading volumes.
- This suggests strong market participation and validates the significance of the price movements.
- **Retest of Weekly Breakout Levels:**
- The stock revisited the breakout levels on the weekly chart.
- This retest is a crucial step in confirming the strength of the breakout.
- **Short-Term Trendline Break (Daily):**
- On the daily chart, the stock broke a short-term trendline.
- This signals a potential shift in the short-term trajectory, aligning with the broader bullish context.
- **Conclusion:**
- The confluence of a multi-year breakout, cup pattern on the weekly chart, and a daily trendline break, supported by strong volumes, paints a favorable picture for potential bullish opportunities.
BHEL: Chart set up.. trading strategy.. R&R and Risk ManagementBHEL
Chart set up
- the stock has seen a meteoric run of approx. 14 points from 122 to 136 on 1st Sept 23 and then a 14 point drop back to 125.65 a few days later on 12 Sept 23.
- this makes the zone of 122-125.65 a crucial level to watch out for which may potentially act as resistance zone
- on the down side 63 day EMA is around 118
- recent closing low of 116.3 and intra day low of 113.5 make those levels important on the downside...
View
- possible range bound movement
Trading strategy
- Given the view, an Iron Condor strategy can be considered to trade the current set up
It consists Buying and selling of both Call and Put options
Buy Out of Money Call & Put option and Sell Near money Call & Put Option
Understanding Risk & Reward
An example of Iron Condor strategy and its working
Sell 115 Put option around 1.85 and
Buy 110 Put option around 0.85
Sell 125 Call option around 2.9 and
Buy 130 Call option around 1.6
Margin requirement for the strategy : Rs 66800 approx.
Net receivables 2.3 points per strategy
Lot size 5250
Max profit potential Rs 12075 if BHEL closes any where in between 115-125 on 30 November 2023.
Loss in strategy if BHEL closes below 112.70 or above 127.30 on 30 November 2023
Risk Management
One can review around 116-115 on the lower side / 124-125 on the higher side giving ample time and scope to adjust / exit with minimum damage.
Focus on managing risk. If risk is managed, one stands a better chance to stay profitable.
Do let me know in the comment section below if you find the analysis helpful.
Like and Follow
Take care & safe trading...!!!
Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Retracing after breakout. Accumulating.After volume breakout, the price is retracing with less volumes. Accumulating in the same zone.
Buy for a target of 148 with 122 as SL.
BHEL ltd,.; min 30% Return ; right time to investFundamentally good stock,
For long term investment.
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Entry: 102
target: 104 -119 - 130
sl: 97
major stoploss/ support: 87
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Enter only after breaking & close above " Yellow box" mentioned.
Or else wait for some time.
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;good for long term investment.
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Don't make complicated trade set-up.📈📉
Keep it " simple, focus on consistency 💹
Refer our old ideas for accuracy rate🧑💻
Valuable comments are welcomed-✌️
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refer old ideas attached below
Might be taking a plunge.Might be taking a plunge if the neckline breaks . with nifty in red it will become easy going forward. Hedge and Stop loss must so as to buy time for trade and remain for long.
safe players need to wait further till 120 levels. Risky players can enter.
BHEL Buy for150*for educational purpose only.
Daily and weekly RSI is above 60.
Stock has potential to reach 150-160 levels soon.
BHEL long position to buyReason for taking this trade:
1. BHEL is making Higher High
2. RSI is coming back from Overbought and taking support at 50 level.
3. With Buy around 122 and a target of 150
4. With Stop loss of 117 or we can wait till 112.
5. Volume: For this correction volume is less compared to the move.
Note: Only for Education Purpose.
BHEL investment Most probable BHEL entered Wave3 journey . Should be Buy on Dips candidate for short to midterm targets 138, 160 . Make your own decision
BHEL an inverted HNS breakoutBhel is getting stronger on charts and can give one more rally.
current levels are 0.618 retracement (121-122) which is crucial testing.
wait for a day close above this levels to enjoy a 20% rally
Education price action analysis - BHELStock is trying to break a long resistance zone...
if it is broken than upper resistance can be tested
Entry above 125
SL 87
Target = as per your risk..
