BEL trade ideas
BEL reversal zone in 80s for going long !!Immediate support at 87, best entry at 80.
More details on the chart.
Flag Formation support line
Fibonacci retractment at 618
Making 80 as strong demand zone !!
BEL reverse head&shoulder pattern BEL is at a critical resistance forming a neckline of reverse H&S pattern , from price action it looks it will break the line and give breakout upwards moving towards next resistance lying at 147 - 150 levels. once can go long with a SL of 109 and target of 148. remember to position size your trade according to your risk apatite.
BEL { 15 M Short ]Apologies for posting late ( as I'm also tracking my own trades , posting it now )
Psychology behind this trade - It formed IB in D frame which got broke in 15 M tf by mentioned candle and we set target slightly above support
Can Bharat Electronics reach a target of 102?As per my analysis, Bharat Electronics NSE:BEL is currently trading around the demand zone of 95 and it would travel to the immediate supply zone at 102.
Please do correct me in case my understanding is wrong.
BEL - Inverted Head and Shoulders - BUY above 122Inverted Head and Shoulders pattern on BEL.
Wait for BUY to trigger above 122
Target - 180
SL - 85
BEL { Short 30 M }At resistance, we can bet for a short trade here . As it also forming doji clearly increasing chance of falling to the target ( Lower white line ).
We should take a trade as PCL break in 30 M time frame. And trail it by PCH as SL.
BEL is showing bullishnessBEL is taking support at the previous downward trend line and and now its starting to move up today it is closing above 20 MA confirming the bull run TGT area for this trend will come around 141
BEL Possible Long Opportunity (Waiting for Handle breakout)Kindly consider this as knowledge sharing and not any kind of recommendation!
Bharat Electronics is forming a Cup & Handle Pattern on a WEEKLY timeframe
Important Observations
1. Price is near the demand zone as well as lower channel line of Handle
2. Volumes on the consolidation of the handle are low
3. A handle is considered valid if retracement is 1/3 to 1/2. We haven't reached that level yet
All in all, keeping my eyes on this Script!
