BEL chart after last trading session on 1st Jan 2021Check the Before and After chart. This is the after chart.
BEL trade ideas
Buy in BELBEL is good for short term buying, as it is giving breakout with volume. I am personally bullish on this stock for short term
BEL- CMP 118.25BEL- CMP 1.25 - BEL is showing a sort of inverted head and shoulder pattern. With todays upmove it is confirmed. Volumes are also very good. RSI rising MACD rising. Longs can be initiated with SL of 110 for target of 123.5, 130, 140+ This is for educational purpose only and consult your financial expert before investment.
BEL- CMP 114.9BEL- CMP 114.9 - BEL is trading in ascending channel pattern. It has fallen recently from upper end of the channel and taken support at bottom of the channel and is going towards upper end of channel. It can go up to 123 initially and can further move up to 130 levels soon can buy with a sl of 109. This is for educational purpose only and if any trade is done shall be with the advice of financial experts.
BEL breakout on Weekly ChartNSE:BEL
BEL on weekly chart finally seems to be given valid breakout to major level of 118. Which looks good for short term and well as swing traders.
BEL on week of 7th December 2020 had already try to give breakout to the same level but it had face solid rejection there, after closing of the last week (14th December 2020) I can say that the supply which cause the rejection we are seeing on 7th December candle was actually absorb by the bulls and the result of the same is last weeks bullish closing which also manage to close above 118.
Do note level of 85 is become strong support for this counter for future trend and next resistance for BEL if 178 which actual a lifetime high for now and as per current trend of BEL its looks like its about to make new lifetime high.
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.
