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BHEL Report

The document provides a technical analysis of BHEL Futures, highlighting key observations from monthly, weekly, and daily charts, including price support levels and RSI indicators. A trading strategy is suggested, recommending a long position at the current market price with specific targets and a stop loss. The analysis is based on technical analysis principles and includes a disclaimer regarding the risks involved in trading.

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Amit Rathi
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55 views4 pages

BHEL Report

The document provides a technical analysis of BHEL Futures, highlighting key observations from monthly, weekly, and daily charts, including price support levels and RSI indicators. A trading strategy is suggested, recommending a long position at the current market price with specific targets and a stop loss. The analysis is based on technical analysis principles and includes a disclaimer regarding the risks involved in trading.

Uploaded by

Amit Rathi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BHEL 29th November, 2018

CMP – 68.15
Given below are the Monthly, Weekly and Daily charts of BHEL Futures.

Note the following in the Monthly chart -

Price: Price is at multi-year support.

RSI: RSI seems to be taking support at 40 levels.

BHEL – Monthly Chart

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Note the following in the Weekly chart -

RSI – RSI is seen displaying a range shift along with a divergence. This could signal a reversal.

BHEL – Weekly Chart

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Note the following on the Daily chart -

RSI – Daily RSI displays a divergence near 40 levels.

Price- A W-pattern is seen forming on price vis-à-vis the Bollinger Bands.

Volume – Bullish candle patterns have been displaying high volumes as shown in the chart below.

BHEL – Daily Chart

STRATEGY –

One can go Long on BHEL at CMP with a stop below 64.50 on a closing basis for targets as
follows -
Target 1 – 72

Target 2 – 74

Target 3 – 76

Trade Duration: Four to six weeks

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DISCLAIMERPrivate Limited. The contents of this site are base
The contents of this report are based upon the theory of Technical Analysis of the Financial Markets. The
technical analysis of the market movements and the predictions of future price trends based on historical
price movement and the market commentaries on the probable future market price trends are offered as
a source of information. They are the views of malkansview.com only and are in the form of Equity Market
Research. Under no circumstances it is to be considered as an offer to facilitate trading in the stock
market, or a solicitation to buy or sell any security and/or options, futures, commodities, etc. The use of
the information is entirely at the risk of the reader and it is his/her sole responsibility to evaluate the
accuracy, completeness and usefulness of the information.
Malkansview.com does not accept any liability arising out of use of the information/articles. No
representations can be made that the recommendations contained herein will be profitable or that they
will not result in losses.

It is entirely possible that the owner could have, from time to time, some trading or investment positions in
the stocks being discussed. This report is not intended for distribution to, or use by, any person or entity,
any jurisdiction or country, where such distribution or use would be contrary to local law or regulation.
Reproduction in whole or in part without written permission is prohibited.

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