BHEL as per Elliott waveBest Charts for Elliott wave
The point here is that these changes should not be looked at in a bad way, as something negative. Rather, they can be utilized to create new opportunities for profit. This is definitely the case, as a good trader doesn’t care in what direction the prices will go eventually. At the end of the day, what they care about is that they make the right prediction about the movements of these prices.
BHEL trade ideas
BHEL - GHODA (Wait for Retracement to BUY)Monthly View:
BHEL is a Ghoda Stock, on Monthly TF there is hammer & low of the candle is very IMP.
No doubt the Stock is in retracement.
Weekly View:
If we draw the Support TL, as of now it hold the support strongly. If this support breaks down stock may fall at 224 which is again low of the Major Event (Election) candle Low.
Daily View:
after understanding M/W view now the stock is at Crusial level at Support & if this support breaks down it will fall at 224
Final call: Wait & watch the IMP level since Nifty also standing at IMP support Level.
WHAT IF:
Option1: If the level breaksdown - SELL CALL and hedge with buy call (Bear Call strategy)
Option2: if any Weapon at support such as Bullish engulf - go long with Tight Stoploss (Equity buying)
BHEL Picture Abhi Baki Hai (The Show is not Over Yet)BHEL has been in impulse wave since 2020 & is completing Wave 3 of lager wave (3) so 1 more wave looks pending a close above 280 would be first sign of correction has ended & the recent low was wave 4 which ended in ABC in a irregular flat or we might make a new low but should end between 234-224 right now shorts are not a good idea in current wave structure.
Strong Reversal From Lower Trend :- Pattern Continuation
- The stock has been trading within an ascending broadening wedge pattern, characterized by higher highs and higher lows.
- Recently, the price bounced off the lower trendline support around INR 280, showing bullish strength.
- There is a notable increase in volume, supporting the recent price surge, indicating strong buying interest.
- The RSI is currently around 48.62, suggesting a potential rise towards the overbought region, supporting further upside momentum.
- **Support:** INR 280 (Lower Trendline)
- **Resistance:** INR 340 (Upper Trendline)
- The stock is expected to continue its upward trajectory within the wedge, potentially testing the upper trendline resistance around INR 340.
BHEL 1HRINTRADAY TRADE
- EARN WITH ME DAILY 10K-20K –
BHEL Looking good for upside..
When it break level 311.05 and sustain.. it will go upside...
BUY@ 311.05
Target
1st 317
2nd 323
FUTURE AND OPTION
BHEL JUL FUT – LOT 4 (Qty-10500)
BHEL JUL 295 CE – LOT 1 (Qty-2625) – PRICE (23.2)
Enjoy trading traders.. Keep add this STOCK in your watch list..
Big Investor are welcome..
Rising Wedge pattern breakout in BHELBHARAT HEAVY ELECTRICALS LTD
Key highlights: 💡⚡
✅On 1 Hour Time Frame Stock Showing Breakout of Rising Wedge Pattern.
✅Strong Bullish Candlestick Form on this timeframe.
✅It can give movement up to the Breakout target of 308+.
✅Can Go Long in this Stock by placing a stop loss below 295-.