If u look at the chart of BHEL (analysis based intraday only) the BHEL support at 52 and Target at 58 and Stop loss at 46.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more indepth analysis.
In Intraday most important thing is to enter and exit points.
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Live Challenging Signal Buy BHEL @ 52.45
Entry Type: Buy
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This analysis is done purely on basis of price action and chart patterns.
The analysis is done on weekly TF hence it can take couple of days to couple of weeks/months to reach the target.
The image is self explanatory.
Range for entry, SL and Target is shown in image itself.
Since this is a stock of NIFTY ENERGY index, one can refer the weekly chart of NIFTY...
BHEL - Monthly chart looks highly bullish.
Buy above 44.5 (Neck point of Harmonic analysis) for targets as follows
Bearish BAT Pattern target - 67.5 to 68.0. At this point, we might see a small reversal so once can book 50% profits at this level.
After a reversal, once it crosses 67.5 again, re-enter with the same 50% again.
Bearish Crab pattern target - 108...
After long time - we are seeing postive movement in BHEL and currently waiting at trend line.
Incase if cross next target will be 58 and further 74.
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If cross and sustain 40.5 --- can go for 42 JAN CE.