HEG may see a low of 3996Using the retracement rally bearish point on Q1, we may see a possibility of 3996 over the next two days hopefully for an target of 6150.
HEG trade ideas
ConsolidatingHEG will return to bullish move if any trigger gets actuated. Else, it is likely to consolidate till 10th December and down to a level of 4080 for any natural up move from there on.
Range boundconsolidating within a channel. HEG not going anywhere if not closed above 4455. technical breakout possible only above 4625 on closing basis.
HEG - 30 Minute Chart - Hoping for start of Bull CycleI have compared the Q1 and Q2 price movement patterns and have marked with numbers 1,2,3,4 (against each quarter). Also using the fibb retracement, I have charted that using the 4950 retracement rally levels from the bearish point of 2986 and expecting a target of 6154 and expect spikes of 6300-6400 (All time high expected) over the next 20 days.I am republishing this chart and your feedback is welcome.
HEG Consolidating and looking for possible upmoveTarget for HEG is around 6000 levels before 10th Dec.
HEG Fibb Retracement comparison Q1 (Achieved) and Q2 (Estimated)HEG Fibb Retracement:In Q1 from the bearish most point which was 2580 levels it moved to 4375 levels(approx 68%).In Q2 from the bearish most point of 2986,we can expect a target of 6154 friends!
Still consolidatingThis is hourly chart. Since 26th October the stock is trying to cross 9 month 1/1 resistance line. Hopefully it closes above 4350 tomorrow. Support is 4200, target 5004.
BullishAs it has crossed 4289 on closing basis, if it sustains momentum, a level of 4950 in short/ intermediate term can be seen.
Resistane aheadImmediate resistance at 4283, if it is rossed, then near term target will be 4890, the intermediate/ long term target being 6500. Support at 3225
Up move should commence nowHEG seems to be following support and resistance levels of 140 day chart. If it is so, tomorrow it shall close above 4000 and in short/ intermediate term we hope it tests a level of 4880-4900.
HEG sitting on supportClosing below 4224 would be weakness for the stock.
S1 : 3772
S2 : 3406
S3: 3041
Stock would be strong when closes above 4812
May start up moveTomorrow if HEG can close above 4273 and remains bullish, a level of 4863 can be seen in short/ medium term. 2903 is a strong support.
HEG fail to breakout the channelHEG fail to breakout the channel, could bring it down to 3600s. If 3100s broken, then it openup a new correction wave altogether.
May turn ultrabullishIf HEG manages to close above 4740, it will have crossed, 1/1 resistance line and will become ultra bullish
BullishThe next major 1/1 angle resistance of HEG lies at 4721. The major 2/1 angle support is at 2601.
