Bharat Heavy Electricals (BHEL) Long Trade Setup on RisologicalTrade Setup: A long trade setup has been identified with entry and target levels charted. As of now, none of the targets have been reached.
Entry Point: ₹229.73
Stop Loss (SL): ₹220.21
Target Levels (Take Profit):
TP1: ₹241.48
TP2: ₹260.51
TP3: ₹279.53
TP4: ₹291.29
Technical Indicators:
Risological Trend Line (Dotted Line): The dotted trend line acts as dynamic support, helping to confirm the bullish momentum. If price continues to respect this line, it may support a potential upward move toward the targets.
Volume Analysis: Current volume stands at 29.44M, higher than the 30-day average volume of 19.17M, indicating increased trading interest and potential momentum in favor of this setup.
Fundamental Context: With the next earnings report scheduled in 100 days, this setup is primarily based on technical indicators and market momentum. The solid market capitalization of ₹800.18B indicates BHEL’s stable position, possibly attracting institutional interest.
Outlook : Watching for price action near the Risological Trend Line. If volume sustains and price respects this support, there’s a high probability of achieving TP1 and moving towards higher targets. Traders should monitor price reaction near TP1 for any signs of resistance or breakout continuation.
Bhellong
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.