BEL trade ideas
BEL - BHARAT ELECTRONICS NSE:BEL
BEL LOOKS GOOD ON HOURLY TIMEFRAME, IT HAS FOUND SUPPORT AT 109.50 IN LAST FEW DAYS, IF SLIPS BELOW THAT THEN 105
ELSE 113, 144.75, 116, 117.50 CAN BE SEEN ON UPSIDE
KEEP TRAILING YOUR STOP LOSS
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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BEL THIS COMPANY UNDER DEFENSE MINISTRY ,
Products- Avionics, radars, weapon systems, C4I systems, electronic voting machines, etc.
For short term or swing target 122-124 ; stop-loss - below 110
(stock become remain in strength above 115 )
For Long term target 180-190 stop-loss near 95
(stock remain in movement above 115 and breakout level is 125)
BHL Long investment THIS COMPANY UNDER DEFENSE MINISTRY ,
Products- Avionics, radars, weapon systems, C4I systems, electronic voting machines, etc.
For short term or swing target 122-124 ; stop-loss - below 110
(stock become remain in strength above 115 )
For Long term target 180-190 stop-loss near 95
(stock remain in movement above 115 and breakout level is 125)
Breakout from downward trend line after taking supportbreaking out and confirmed above downward trend line clear sign of uptrend start will be buying it above 114 with sl below 104
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.
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.
