BHEL trade ideas
BHEL looks like coming back to form...Might hit a sixer.BHEL after giving a dream run has been on the sidelines for some time.. It has completed a Bullish Bat pattern on Daily Timeframe and the Price action confirmation on 27th Aug suggests its raring to go again. The RSI is also confirming Bullishness with a Breakout of the Trendline.
BHEL , Buy for target of 64It seems that stock has bottomed out and there is buying interest coming in the stock.
Buy BHEL at current levels and Keep stop loss of 51 on days closing basis.
Target for the stock will be 64-65 (15.4% - 17.2%).
Keep a view of 3 months, buy and hold the stock
**Ideas are my own** Take risk as per your risk taking appetite**
BHEL SYMMETRICALPATTERNHello
Welcome to this analysis about BHEL, we are looking at daily timeframe perspectives. BHEL in recent times heavily decreased with bearishness however it now moved into an oversold condition. BHEL is developing here that will be a decisive factor in the upcoming times. I discovered the main formation BHEL is developing here that will be a decisive factor in the upcoming times. As when looking at my chart now we can watch there how BHEL has emerged with this key BHEL SYMMETRICAL PATTERN marked in my chart with the black boundaries. BHEL is near support region which is an important support and also psychological support-mark together with the lower-boundary of the BHELSYMMETRICAL PATTERN a pullback
In this manner, thank you for watching my update-analysis about BHEL and its major BHEL SYMMETRICAL PATTERN with the determining factors we need to consider in upcoming times, support the analysis with a like and follow or comment for more market insight!
BhelBhel could be a good candidate for short term investment pick, the stock fell to 78.6% retracement of the last rise and then developed positive divergence in rsi along with trendline breakout with good intensity of volume, and most probably now it's going up to make higher highs and higher lows, bkp is also formed in daily time frame, once it crosses mid bollinger then it would be a more effective as presumed, there are little resistances at 55.25 & at 60-62, above that it can fly more freely towards 100+ range.
Wave Structure is likely to be
Retracement levels
Macd in daily positive crossover and Uptick
Bullish rsi divergence
Rsi Uptick in daily
Rsi Uptick in Weekly
Bkp is formed in daily
Breakout with Good intensity of Volume in daily
Breakout with Good intensity of Volume in hourly
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing