BHEL IS IN DANGERAs per me , BHEL is still in corrective wave , & so it is still in danger of falling upto 10
Disclaimer - Ma view , Ma ew view
BHEL trade ideas
BHEL - Harmonic Bullish Bat Pattern - LongBHEL in 2 hrs Chart show Harmonic Bullish Bat Pattern.
With Target entry - 21
SL - 20
Target 1 - 22.50
Target 2 - 23.50
Target 3 - 24.50
Disclaimer: Kindly do your own analysis before executing the trade
Bullish on BHEL about 78 for Target of 84/90/92 SL:70Bullish on BHEL about 78 for Target of 84/90/92 SL:70
BUY BUY BUY... buy for Longer term horizon, keep buying if falls again till 15 odd levels. Dnt worrry, any fine day we may get to know the Stake sell by Govt to Some biggger names in related industry.
Gann and Elliott combined togetherWhile it’s not always clear why a time and price symmetry identified a market turn, such symmetries do indeed exist.
Gann, considered the squaring of price and time his most important discovery . He called it range and time squared.
However, the proper application can be tricky.
Markets are enigmas, and this attribute demands a great deal of flexibility when working with price and time studies.
How i calculated the Date as 20th May
From wave 1 to wave 3 - it took 43 price range
Add 43 trading days from the date of the lowest point - that is from 13th March - it comes to around 20th May
Now about the Price
The lowest price on 13 march is 18.4
square root of 18.4 is 4.3 . we have to add 1 to this number to get 180 degree = 4.3 +1 = 5.3
To calculate the price - 5.3 * 5.3 = 28
also 38.2 % fibonacci retracement comes to 29 .
This is just another example of how Gann’s principle of time and price balance out.
BHEL is still in DangerBHEL definitely looks corrective.
Hence in the longer run it looks it is going to go below 15.
But incase the wave turns complex - the stock may touch 29, which is the 200 moving average.
BHEL Breakout on daily chartNSE:BHEL
both resistance and trend line breakout with high volume. RSI is above 50. trade can be initiated with stoploss at 21.
BHEL Is also expected to go down to 10 to 10.5BHEL Is also a sell & is expected to reach a minimum of 10 to 10.5
This is based on wave pattern
But 10 to 10.5 is a great entry level
Why i still believe in BHEL ???BHEL Turn around in Pipe line
a wave pattern perspective
Beware that this is a monthly chart !
BHEL HOURLY WAVE COUNTThough BHEL is a multi-bagger , i guess one more low is expected
Check the wave counts
