BHEL BTOKE THE DOWN TRENDLINE RESISTANCE. It has also made a double bottom on daily charts. Go Long above 137 (Above Today high at fib resistance) SL at beginning should be 128. Targets:- All those Fib Levels that you see on charts. Trail SL after T1 is achieved.
BHEL has taken support at 38.2% retracement levels it seems. Also the price is at the bottom of the Upward channel which is a strong confirmation that the price is at an important juncture, BHEL can now move higher if it respects the upward channel and rebound from these levels. Go LONG at the current level 135 Target 160 SL 126
BHEL Short Term Buy Set Up. Comments and Suggestions appreciated.
NSE:BHEL Bhel trade at 142.95 (-3.25) (-2.22%) at the time of writing, according to me sell at 143.10 for the target of 134.25
BHEL taking support at daily Kijun Sen @147.50. Reversal can happen here. Can be bought with 141 for a target of around 165.
The price action broke out from the consolidation symmetrical triangle and as per its measurement target is expeccted to reach at 145 levels. Target: 145.40 Stoploss: 135.40
We had very good move after the ascending triangle breakout, booked some great profits out of it and now BHEL is retesting the resistance, so I'm planning to go short if we get bearish confirmation, I'm not sure what will happen on Monday, if we get Gap Up in BHEL bcos of Nifty better we can re-think this entry strategy. If it opens in one and once bearish...