BHEL: Head and Shoulder Pattern
Head and shoulder patter observed in BHEL.
H&S indicates a trend reversal from Bullish to Bearish. But Since Nifty is in bull run & will go upwards after minor corrections happening since past few days.
Hence I am more in favor of long setup in BHEL. Volume is gradually increasing from a couple of days.
Volume & Price action is in favor of a long setup
Most probably -> it will cross the right shoulders high (around 39) with volume & we can enter in a long setup as below:
Long above 38.8
Long Setup:
Target 1- 42.5
Target 2- 47.5
SL -34.70
In case of Nifty fall, BHEL will follow the short setup as given below following ideal H&S strategy
Short Setup:
Target 1-32.60
Target 2-29.30
SL-39.3
Please let me know your views.
H&S indicates a trend reversal from Bullish to Bearish. But Since Nifty is in bull run & will go upwards after minor corrections happening since past few days.
Hence I am more in favor of long setup in BHEL. Volume is gradually increasing from a couple of days.
Volume & Price action is in favor of a long setup
Most probably -> it will cross the right shoulders high (around 39) with volume & we can enter in a long setup as below:
Long above 38.8
Long Setup:
Target 1- 42.5
Target 2- 47.5
SL -34.70
In case of Nifty fall, BHEL will follow the short setup as given below following ideal H&S strategy
Short Setup:
Target 1-32.60
Target 2-29.30
SL-39.3
Please let me know your views.
ملاحظة
Trade active... Near its Target.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.