BHEL - FALLING CHANNEL BREAKOUT -LONG
BHEL DAILY CHART --FALLING CHANNEL BREAKOUT
1. Stock seen fall from sub 76-78 level to 44 level and form falling channel throughout last 4-5 months . stock seen falling channel breakout
last closing session with high volume , which indicate stock has bottom out and ready for trend reversal
2. at falling channel at support level triangle pattern also form which also breakout same level which can be take as supportive indication for
trend reversal
3. RSI seen bullish trendline breakout at this level 57.82
4 60, 65 is resistance where we can place as 1st target once broken stock may seen above 70 level also
5. stop loss can be place bellow 44 level where stock seen strong support and bottom out.
** THIS IDEA IS FOR EDUCATIONAL PURPOSE ** trade at own risk'
** HAPPY TRADING. !!
1. Stock seen fall from sub 76-78 level to 44 level and form falling channel throughout last 4-5 months . stock seen falling channel breakout
last closing session with high volume , which indicate stock has bottom out and ready for trend reversal
2. at falling channel at support level triangle pattern also form which also breakout same level which can be take as supportive indication for
trend reversal
3. RSI seen bullish trendline breakout at this level 57.82
4 60, 65 is resistance where we can place as 1st target once broken stock may seen above 70 level also
5. stop loss can be place bellow 44 level where stock seen strong support and bottom out.
** THIS IDEA IS FOR EDUCATIONAL PURPOSE ** trade at own risk'
** HAPPY TRADING. !!
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