BHEL:
CMP 138
Observations
- From the highs of 182.75 the stock has seen a steep fall to 133.60 odd levels
- the stock is consolidating for the last few trading sessions since then
- 142 - 132 represents 61.8% and 76.4% retracement level of the rise from 116 to 182
- Do note: No confirmation of any reversal so far from chart...Do not rush to trade...
- a close above 140.50 might indicate a short term bounce towards 148-154 zone
However From a longer term horizon view...
- the stock is in up trend channel
&
- 128 -133 zone is an important level for the stock... holding that may confirm reversal from lower end of the channel
Target in that case would be around 195 -213 zone towards upper end of channel in medium term
A buy on dips towards 133-128 zone can provide better risk::reward ratio
Take care & safe trading...!!!
CMP 138
Observations
- From the highs of 182.75 the stock has seen a steep fall to 133.60 odd levels
- the stock is consolidating for the last few trading sessions since then
- 142 - 132 represents 61.8% and 76.4% retracement level of the rise from 116 to 182
- Do note: No confirmation of any reversal so far from chart...Do not rush to trade...
- a close above 140.50 might indicate a short term bounce towards 148-154 zone
However From a longer term horizon view...
- the stock is in up trend channel
&
- 128 -133 zone is an important level for the stock... holding that may confirm reversal from lower end of the channel
Target in that case would be around 195 -213 zone towards upper end of channel in medium term
A buy on dips towards 133-128 zone can provide better risk::reward ratio
Take care & safe trading...!!!
Nota
Apologies for the above chart....Here's the actual one
Nota
BHEL CMP 134.30-We have been obsderving the stock since Monday 19 June...
However as suggested in title too... I still haven't found what I'm looking for....
No signs of reversal confirmation yet...Still waiting...waiting for a reverasal signal...
Patience is the name of the game...
Take care
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.