BEL - FLAGBEL formed a flag pattern on hourly chart and also has MACD positive divergence on 2hr TF. Retraced 61.8 and now at 38.2 . Targets on chart.
BEL trade ideas
Long term is soon touch down levelLong term bharat electronics soon touch down level and trade on that zone for some time but some momentum of upwards is still is on the way but that stay at that top level long, so it trade than consciously
BEL Short.Completed its Double bottom pattern.
It may test the 90 support level once to continue the rally.
Also forming a Bull Flag pattern in 1 hour time frame.
One can take a counter swing trade up to 90rs
Stop Loss above 100/- closing basis with double conformation. OR if break the parallel channel.
Bharat electronics cup and handle formation The set up has completed round shape, now currently forming handle part, it usually takes 1 month.
The probable retrenchment are drawn, wait for formation to get complete.
On reversal if price crosses neckline (103) , It may go up to 140-150.
Duration will be 8-9 week after neckline break out to reach the estimated level.
Bharaat heavy electricalsObswervation : Breakpit above 67
Strength : Strong Breakout.
85-86 levels Strong resistance (Above it new tradign range)
View negates below 77 (on closing basis)
Happy Trading
Box breakout happendBox breakout happened but monthly support at 83. so once it is done trget will be 94
BHARAT ELECTRONICS ON THE VERGE OF A BREAKOUTNSE:BEL
BHARAT ELECTONICS has formed the classic cup and handle pattern on the daily chart. With high buying volume and a positive trend indicates a breakout with a possible target of around 20%.
Short BEL : Bearish Engulfing Supported by Double TopShort @73.5-74
Stoploss @77.4
Target 1 @68.9
Target 2 67.5
For educational purpose only.
You might see info lines on the chart, was tinkering with them :P
#BHARAT ELECTRICAL BHARAT ELECTRICAL HAS FORMED BEARISH GARTLEY PATTERN ON HOURLY CHART PATTERN.
VIEW NEGATE ABOVE 77.5 ON CLOSING BASIS.
