STOCK FOR LONG TERMPatience is the key to trading success. Without it, you will quickly find yourself trading subpar setups and losing money left and right.
BEL trade ideas
Bharat Electronics Ltd: Key Support Zone and Potential Breakout Technical Overview
Descending Triangle Pattern:
The price action appears to be forming a descending triangle, which is typically considered a bearish continuation pattern. The triangle's resistance line is a downward-sloping trendline connecting the series of lower highs, and the support is horizontal around the 270-265 INR level.
Support and Resistance:
Immediate Resistance: The first resistance is at 289.60 INR, as indicated by the horizontal line.
Major Resistance: Above this, significant resistance exists around 312.70 INR and 340.25 INR.
Support Zone: The highlighted yellow area between 265-270 INR indicates strong support. The price has tested this zone multiple times without breaking down, suggesting that it is a key area to watch for either a bounce or a breakdown.
Moving Averages:
50-Day Moving Average: The price is currently close to the 50-day moving average. A breakout or breakdown from this average could provide a signal for further price movement.
200-Day Moving Average: The 200-day moving average is trending upwards and acts as long-term support. It's a key indicator for identifying the overall trend, which remains bullish in the long term.
RSI (Relative Strength Index):
The RSI is showing a bullish divergence. Even though the price has made a lower low, the RSI has formed a higher low, signaling a potential reversal or bounce from the current levels.
Volume:
There is a noticeable drop in volume over the recent sessions, suggesting that traders are waiting for a decisive move. If the price breaks either the support or resistance lines, a spike in volume will likely confirm the direction of the move.
Target Price:
Bullish Target: If the price breaks above the descending triangle and crosses the resistance at 289.60 INR, the next target could be 312.70 INR, with a long-term target around 340.25 INR.
Bearish Target: A breakdown below 265 INR could lead to further declines, with the next significant support level around 240 INR.
Conclusion:
The stock is currently trading near a critical support zone in a descending triangle pattern. Given the bullish divergence in the RSI, there's potential for a bounce. However, traders should wait for a breakout above the 289.60 INR level for bullish confirmation or a breakdown below 265 INR for bearish continuation.
Risk/Reward Tip: Use stop-loss strategies close to support and resistance levels to manage risk effectively, as either scenario (breakout or breakdown) can lead to significant moves.
BELBEL is on the verge of a breakout, and if it manages to break above the current trendline, it could target the ₹300-₹350 range. Keep an eye on the breakout confirmation for potential upside. Looks like there could be some exciting movement ahead! 📈. Company have strong orderbook and it's profit is increasing yoy basis.
BEL : Key Support & Resistance Levels at Current Price of 286.90NSE:BEL : Key Support & Resistance Levels at Current Price of 286.90
As NSE:BEL trades around 286.90, it shows signs of weakness, and it's essential to focus on the following support and resistance levels for potential trading strategies:
Resistance Levels:
Immediate Resistance: 295 – This level may act as a barrier for upward movement.
Psychological Resistance: 300 – A significant psychological level that traders watch; a breakout above this could attract more buying interest.
Key Resistance: 307 – A crucial level for confirming bullish momentum; a strong close above here may indicate a sustained upward trend.
Support Levels:
Crucial Support: 285 – This key level may provide buying interest. A break below this could lead to further downside.
Stronger Support: 275 – Acts as backup support, offering a safety net for traders.
Lower Support: 267 – If tested, it would indicate significant selling pressure, warranting close attention.
Outlook: BEL appears to be weak at the moment. Holding below the 285 support could lead to further declines, potentially testing 275 and 267. A bounce back above 285 may provide a chance for a retest of 295, but caution is advised given the current weakness.
Disclaimer: I am not a SEBI Registered Research Analyst (RA). This analysis is for educational purposes only and should not be considered as investment advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
If you found this analysis helpful, please consider sharing, following, or boosting this idea! Your support is greatly appreciated!
Go long in BELThere is a similar pattern in BEL as that of HAL on 15min TF. There is a formation of Head & shoulder pattern on 15min TF. So go long in BEL for the targets of 288.55, 295,302.40,309,314 & 320.50.
BELBEL
ABOVE 289-295 IT will be towards for 310-330-360 +++
sl 240-250
not a buy or sell it just for educational purpose only..
BEL 325 + on cards Multiple reasons I see BEL to reach 325 in 1-2 month timeframe.
1. I see breakout in one hour chart. and retest for the same (Ready to fly if sustain 295 levels )
2. Data of futures on 27/09/2024 has the highest open interest with 2247.71% change in OI after 28/07/2023 when it has 2292.24% OI change
3. Defense sector moving out of the consolidation.
4. Long buildup in calls until 310 and short buildup on put side gives a good insights of moving upward.
5. Big news on Friday on JV with Israel company approval.
6. Stock being added into Nifty 50.
Please see the chart for my levels.
Seeing all this I see a good upward move in the stock in upcoming days.
Disclaimer: I'm not a SEBI registered Analyst. I Analyze stocks based on my learnings and this is for educational purposes please do your own research before investing.
Possible reversal spotted in BELGood reversal from sevaral clusters of fib extensions, also giving trendline breakout. This gives low probability, risky buying opportunity in BEL. 262 level will be stoploss for this trade. A minimum target of 312.15 can be achieved. Thought it looks like a small target, subsequent targets will be open gradually as the trade moves into our favour.
For safe entry wait for confirmation by special MAGIC BOX strategy.
The blue box is my special MAGIC BOX strategy. Comment below to know more about it.
This analysis is for educational purpose only.
BEL S/R Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BEL Bullish Flag pattern Expect BEL to go up with flag bullish pattern. Expect BEL to go up with flag bullish pattern.
DESCENDING TRIAGLE FORMATION(Bearish)#BEL has formed a descending triangle and is approaching the support zone. Upon breakdown and retest the trade will be activated.
Entry: 276
Stoploss: 295
Targets: 240/220
Bharat Electronics Limited (BEL) Short-bullish ViewBharat Electronics Limited (BEL)
I am seeing short-term bullish potential in BEL.
This is for educational purposes only.
BHARAT ELECTRONICS in my Watchlist! Big Short Setup FormingBHARAT ELECTRONICS in my Watchlist! Big Short Setup Forming
The last long trade from 12 April, 2023 is at its reversal point giving us a 170 gains in 518 days.
If today's 1D candle turns red, this could be a good short entry for long term traders and swing traders in 1D time frame.
I will update this trade post 3:30 if this candle turns red and confirms a Short trade.
Let's see how it goes from here.
DYOR before following other's trades blindly.
BEL -buy with stops Taking support at 280 i.e .238 % of retracement and MACD suggesting buying interest Stock looking bullish with a stop of 280 or Wave a of 4th might have ended here and stock can chug lower to .382% retracement of rs 244 ( likely scene ). will have to see how much b wave travels ( recovery).
BEL LONG BEL as of now SWap from Daily Supply
Current BUY Level 280-300 Zone
There is mutiple Support on This Area
any Upside Closing above 324 will act as strong uoside movement till 430 level
BEL Broken from ResistanceBEL NSE:BEL has broken out of resistance. Today there is a chance of Dips to 318, but at that level to a Target of 340 first and if it breaks out there, then Next Target would be 390
Review and plan for 30th July 2024 Nifty future and banknifty future analysis and intraday plan in kannada.
Stocks to watch - included.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
BEL: Bullish Divergence & Ascending Trend — Breakout Imminent!BEL shows promising bullish divergence and a strong ascending trend line. With a potential breakout on the horizon, now might be the time to watch this stock closely. Get ready for the next move!
#BEL #Divergence #TrendLine #StockAlert
BEL may riseWith upcoming quarter results go best with BEL, this share will have gap-up on Monday morning,
Currently the stock is on good support level of 20 DMA.
Company has good presence in defense sector exports, good international presence, also have good order book. Thus, we can expect good rally in this equity share.
BEL Bullish Divergence & Ascending Trend LineBullish Divergence in RSI
Ascending Trend Line
Reversal from Recent Support
BEL near strong support BEL is trading near it's strong support 303. Might be a good bet from 297 to 303 with SL of 296.
