BEL trade ideas
Shark pattern completed on weekly chartBased on my study BEL can be bought with stop loss of 55 and target are highlighted in green color line. It forming head and shoulder pattern on daily chart
BEL; will it goes with DT or with moderate UT ?The stock depicts a clear view of DT as far as Monthly weekly and daily charts. However, as far as 45min chart concerned it gives a moderate uptrend and there was tough Fight between sellers and buyers where the candles were rejecting the EMA and UT
Hence the decision was hypothetical, if DT was respected then it was advised to take short when candles give confirmation below the EMA. If moderate UT was respected wait for confirmations by breakout of DT and take long position
head and shoulder in BEL NSE:BEL has head and shoulder in daily timeframe and it is coming near 50 ma in daily timeframe
BEL downside target of 58BEL is trading below 3 drive next lower side target should be 58,53 and 41-43. I will review for Buy position once it reaches 41
BEL Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
BEL Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
Nest Move I am looking one more small flag type pattern formation in coming days , I will let it move complete with in the structure and look for short sell Opportunity based on my Trade set up terms and Look to cover near the Trend termination place using Trailing stop method
Good luck
BEL POTENTIAL TREND REVERSAL ZONEBUY IN RANGE AROUND 75 TO 77
KEEPING SL 71 TARGETS POSITIONALLY
T1 85
T2 87
T3 92
T4 96
LONG TERM 100++++
