RISKY INVESTMENT PICKBHEL HAS BROKEN BULL FRACTAL AND WAS UNABLE TO SUSTAIN THE UPMOVE
STOCK HAS SEEN TO CREATE STRONG DOWNSIDE BASE AROUND RS 80
TILL NOW STOCK HAS NOT BROKEN ANY BEAR FRACTAL AFTER INITIAL BREAK OF BULL FRACTAL.
BIT RISKY TO ASSUME BUY MOMENTUM STILL EXISTS SINCE IT HAS NOT BROKEN ANY OF BEAR OR BULL FRACTAL AFTER ITS 1ST BULL FRACTAL BREAK.
HENCE RISKY INVESTORS CAN ENTER LONG CMP 89.35 OR AT MONDAY OPENING RATE
STOP LOSS WOULD BE 1 TICK BELOW MONTHLY CLOSE BELOW 77 LOW
TARGET 1 : 164.5_193
TARGET 2 : 325_359
BHEL trade ideas
Ascending Triangle : Waiting for BreakoutWe have an ascending triangle pattern in BHEL and I'm expecting upside breakout today but that means doubletop will fail & gladly yesterday I didn't enter doubletop. So I'm free to enter based on triangle on any directional breakout in Bhel
If you watch closely, we have double top formation with RSI divergence within triangle.
Ascending triangles breakout in upper direction in that case Double top will be failure. Rarely they breakout downside.
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