BEL trade ideas
price action always win indicators then comei believe in price action after that only i wll check indicators.. see here in RSI upper trend line has divergence even though price moved higher then correction came .. after lower trend line has divergence in RSI but price didn't break previous swing low RSI made new low so divergence ..
I am new trader if any wrong please inform me
Bharat Electronic Ltd...Inverted Head and Shoulder BreakoutBEL has broken out from inverted Head and Shoulder pattern with good volume. Good volume on 2ndMarch has helped to cross the neckline resistance.. The Fibonacci Extension points to a upside Target of 157/ 164 and then 186
BEL - CUP & HANDLE BREAKOUT ALREADY!BEL has already broken out from Cup & Handle formation. Could it possibly touch ATH? Most certainly with the push for more Make in India initiative by the goverment. Things are looking positive.
Overall, Bull market is pushing the largely underperforming stocks to move to fresh 52 week highs.
BHARAT ELECTRONICS (NSE:BEL)This particularly, is a very good stock to buy as per my study
With a good combination of technical and fundamental indications this looks a good stock.
Technical aspects:-
Trendline (Uptrend)
Dynamic support of averages in multiple time frames
Retracement levels From 0.618
Breaking a resistance.
Fundamental Aspects:-
Market Cap:-33200cr
PE:- 18.5
pros:-
Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 38.45%
Cons:-
Company has high debtors of 189.26 days.
Promoter holding has decreased over last 3 years: -15.58%
Bharat electrical ltd ,,,,BELbuying rang 120-125,,,,let rsi @60 and bounce back forming bullish candle with rising volume
Change in the Structure We are looking change in the Structure based on last 2 days move in the scrip ,
My previous view was contained with in the channel but now i am looking it might be developing New Move where the identify and pattern will change
Now I am looking this as a W X Y move a three wave move down sub divided in the secondary countable moves with in them ,
One can expect a side way consolidation before it makes one more move up , its time based correction one can wait or trade with in upcoming visual trend
Good luck
BEL looking very bullish the next few weeks- The Fibonacci ext. shows a target of 1.618, i.e. around 170. Usually, movement of price to 1.618 is faster than the rest of the levels.
- BEL trades in an uptrend.
- It broke yearly resistance (in Jan 2021) and is now showing more upward movement.
Buy now and sell at 146 for swing trade and ~170 for positional.
Thank you.
BEL Long Trade (Trendline Support)Based on the price action at the trendline support, a Long trade may be planned. The previous High can be set as the short term target. If the price goes higher than the previous High then trailing Stop Loss can be used to maximize the gains. This is easier said than done. I am the absolute worst at trailing the Stop Loss :). But practice !!!
BELBEL recently broke out from long term resistance zone, and finished retrace... Now trying to get support from trend line
BEL | High probable INHS pattern - Looks good for 40%BEL | High probable INHS pattern - Looks good for 40%
CMP : 136 (Can buy in dip upto 125)
SL : 115
Target : 190
