Please Consult Your Financial Advisor Before Taking Any Decision.
Educational Idea
NSE:BEL long setup on 1h zone, entry at 92.65 with 1 point SL and 2 point TP
Note: Always risk 1% of account size per trade, adjust the position size accordingly.
Bel Buy Pending 87.50 Stoploss 82.20(5.35) Target 92.85 & 98.20.
Previous Consolidation of price is now Big time support for this stock.
Idea will be cancel if not trigger within 31/07/2019
We can see downside for 97/93. If price goes below 99 and close below it we can enter. If we consider hourly trend line I see bearish engulfing candle. Hourly trend is down.
stop loss 99.7
buy at current price
target 118
2nd target 148
Disclaimer: All posts/views are for educational purpose only..!!
Kindly contact financial advisor before taking position/decision.
Beauty of big M pattern is the good reward potential of reversing the complete trend from where it has started. We can see that stock has formed the pattern nicely and with little luck one can expect the price to the level of 90 which is a good reward. Stop Loss I leave at your discretion on your risk taking capacity.
Disclaimer : All ideas are my personnel view....
BEL
Closing Price 112.1
- the stock has seen a consolidation phase of 8-9 months from Sept 2018 till later half of May 2019 when it gave a breakout above the green zone
- looks good on any dips towards 104 or crossing above the yellow zone (closing above 122)
- target for the current set up 134 / 148 / 158-162
- SL if weekly closing is below 97
Bharat Electronics Limited is engaged in design, manufacture and supply of electronics products/systems for the defense requirements, as well as for nondefense markets. The Company's principal products/services include weapon systems, radar and fire control systems, and communication. Its defense products include defense communication; radars; naval systems; command, control, communications, computers, and intelligence systems; weapon systems; telecom and broadcast systems; electronic warfare; electro optics, and solar photovoltaic systems. Its nondefense products include turnkey system solutions; civilian radars; e-governance systems, and homeland security. Its other range of products include electronic voting machines, communication equipment, radar warning receiver and casings. It offers electronic manufacturing services in areas of printed circuit board assembly and testing; precision machining and fabrication; opto electronics components and assemblies, and offsets, among others.
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BEL
![BEL: BEL Long Setup [Intraday]](https://s3.tradingview.com/j/JwEwxWFO_mid.png "BEL Long Setup [Intraday]")
