BHEL - Wait and WatchBHEL is in consolidation phase and trading in a range ahead of its result. If results are good there will be profit booking however if it breaks on upper side nearest TGT - 80 and then 82. On Lower side breakdown, it may touch 70 and then 67. Be cautious while trading with SL as per your appetite and risk bearing capacity.
BHEL trade ideas
BHEL - Positional Cash BuyBHEL - 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 to 110.
Safe SL will be 35 on a monthly close basis.
Aggressive SL will be 30 on a monthly close basis.
My personal view - Chart looking very bullish after many many many years.
Dis:- Holding from less than 30 levels over last 4 months & huge quantity too.
BHEL - All set to test the ~5 years resistance trendline In weekly timeframe, BHEL resistance trendline from 2018 till now itgot 3 times and out of that 2 with good volumes in last 2 years.
It broke the triangle pattern around 50 and consolidated nicely moved to 60+...
Now, it set to test the 5 years trendline around 69-71. Intesting scrip to watch in next 3-4 weeks.
Note: This is just educational purpose not recommendations at allp
BHEL_DailyBharat Heavy Electrical Limited is an Indian government owned engineering and manufacturing enterprise based in New Delhi, India. It is under the ownership of Ministry of Heavy Industries, Government of India. Established in 1956, BHEL is India's largest power generation equipment manufacturer.
Only for educational purpose.
BHEL - Consolidation PhaseBHEL is in downward trend on monthly, weekly and daily charts.
Currently it is in consolidation phase. Breakout possible if it stays above 55-57 levels for 2-3 days, then target of 60-62 can be seen.
On lower side it needs to break 49-48 levels for target of 44-43.
Trade with caution after today's intraday move.
BHEL LONG viewBHEL broke the trendline and is ready to move towards it's previous high as it is currently moving in a big channel.
1:2 Risk to reward ratio.
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
BHEL looks attractive and showing signals of trend reversal.BHEL is PSU which is into engineering and manufacturing capability across several core sectors, including power generation and transmission, transportation, renewables, water, oil & gas and defense & aerospace. X/2 Entry can be taken in BHEL at CMP and second SIP of X/2 entry can be taken above 57 closing. The target for BHEL will be 61.8 and 65.85. In a long run BHEL can even reach 70.5 if it is able to give an above par quarterly result or two. Stop loss should be maintained at closing below 44. It is a company with Zero Promoter pledge. MFs have increased their stake in BHEL in the last quarter or so.
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BHEL - LONG TRADEIt can be good choice for swing trade for a couple of weeks if it breaks the downward trend-line followed from 13 Oct 2021.
For this stock 60.7 acts as a crucial level from May 2004.
The Stock is at a trend line support
Trade Details:
Trade Active : When trend Line breaks
Entry: below 63
Stop Loss: Below Trend line
Targets: 66, 69.7, 74, 77
Holding Period: at least 2-3 weeks
Use trailing Stop Loss: Keep Stop Loss below the target , once the stock is going for next target.
Happy Investing :)