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BHEL

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BHEL trade ideas

BHEL - Elliott wave analysis # complete cycleBHEL is about to move higher from the current level (64). First target : 80 Second target : 86 Third target: 95 Invalidate level : 59 It is an impulse from Oct'20 low and wave 5 is in progress. The projection of the wave 5 is mentioned above as targets. I expect the up-move from Mar'20 is wave A of flat. Wave A is about to complete and then there may be retracement to below 30 level for wave B. From there we can expect strong up-trend to new high,
NSE:BHEL
by dhinesh_kumar
1
BHEL Trend Reversal with Double bottom at long term SupportAll observations on chart. Stock is in bear market for many years. It formed a double bottom pattern, gave breakout with volumes & now there is a strong pullback. Double bottom is trend reversal pattern preceded by down move. After pattern breakout trend reverses to up-move. Location of pattern is important, such patterns workout superbly when such pattern is formed at long-term supports or a strong support. In Case of NSE:BHEL Double bottom pattern is formed at multi year supports check below.
NSE:BHELLong
by varadtambolkar
16
BHEL Chart set up and viewBHEL CMP 66.60 Observations - Long term trend is up - currently in short term down trend - trading between 20 day EMA (in yellow) and 50 day EMA (blue) - there was a big gap down on 14 June 2021 - that zone may act as resistance for some time - thereafter the stock has struggled to get past the orange line around 69.60 - the yellow zone is where the stock has support zone - buying may be considered around 56-59 ____________________________________________________________________________________________ Trading Strategy - on any further rise especially towards 69.50, if I see the price getting rejected, then I would consider selling - if price gets rejected at 20 day EMA itself, I might consider selling OTM Call options - I would consider buying if the stock comes towards the yellow zone Take care & safe trading...!!!
NSE:BHEL
by indiamarketoutlook
BHEL - - Rectangular Channel BORectangular Channel BO Rectangle channel patterns are formed by price action between two key trendlines bound by multiple equal (near) highs and lows. The duration of the pattern can be a few days to months. Longer duration patterns are considered to be more reliable. The volume inside the pattern is non-decisive, but volume tends to increase during the breakouts. Trade: Trade setup occurs when price closes outside the trendline (upper or lower) at least two bars signalling a breakout. Trades are entered on a follow-up bar at high above the breakout bar. possible targets - 70/72 Target: Targets in rectangle channel formations are based on the depth of the rectangle pattern. Targets are usually set at 70% to 100% of the depth of rectangle from the trade entry OR 7% to 10% form the BO price. Stop: Rectangle patterns fail when prices retrace into the middle of the rectangle channel. Place a stop order just below the middle of the channel. In our case, it could be 64.5. MACD MACD line is greater than signal line which shows bullishness in future. Volume Huge volume spike can be seen that indicates bulls are on upper hand.
NSE:BHELLong
by VibhutiSharma
4
Candle Pattern Formation In BHEL , Possible Reversal !The daily candy chart of BHEL shows a Bullish Harami candle formation near a support / demand zone . The yellow highlighted box has three candles , the small green candle or the child candle after the first red candle is the bullish harami candle. There has to be a continuous downtrend in the stock and then a small green candle within the previous red candle, makes the sellers nervous and then we may see a reversal and up move after the bullish harami candle. The buyers come back into action once they see a bullish harami post a downtrend. The bullish haram in BHEL has formed near a crucial support or demand zone , this gives a double confirmation of a possible up move and we see on today's daily chart that price has moved up confirming the reversal !
NSE:BHELLong
by anusuabose92
2