HEG trade ideas
Believe what u see not to see what u believe! I warned u before!Sadly and unfortunately many got stucked here!
up to which level can it fall? just see for yourself to believe it otherwise somebody else saying it might not convince u.
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
not looking good!if it doesnot recoup 2100 level within couple of days, the chart is reminding me of a famous lady's prediction! Now it seems it is not impossible!
Disclaimer:I am NOT SEBI registered, Just trying to learn to predict share price movement. THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Formed double bottom. HEG has closed to day at a level which is a double bottom. The stock may now move up from this double bottom. A couple of days ago, it broke 2/1 support at 2125 and is in bearish trend. The next support is at 1635, which is a 1/1 ascending angle support over a chart of two year span, signifying a very strong support. I expect the stock to move up in the first half of April.
HEG : Penant patternHEG has seen a sharp correction from near 5000 level to below 2000 level and then went into consolidation mode. All this fall and consolidation have leave to emergence of pennant on daily chart. MACD is trading below 0 line but positive crossover has been witnessed. on upside level 2320 and 2650 would be the resistance level. Close past 2320 would negate Pennant formation and close below 2030 or recent low of 1970 would clear signal for continue of bearish momentum based on pattern. Target of pattern is 900 points but for simplicity reason we would focus on % correction below the breakout level, which is 1430 (30% below breakout level). Reason for the next could be SL of alogrithm based on Mean Reversion as market has not touched 20 day moving average even after 1 month. Value buyers could also emerge considering old ROE,ROCE, Interest coverage ratio. Trader should attempt Buy only on close above 2320 with SL of 2150 for target 2650 -3200 OR sell only on close below 2000 for target of 1780-1500 with SL above 2180.
Range Trader can look for 2040-2300 range.
