BHEL - BULLISH or BEARISH? Crab or Gartley?
CMP: 252.5
TF: Daily
Observations:
- Price has broken Swing low at 224 and bouncing up in three wave structure
- Price is trading below the rising channel/trendline
- Price has negated the LH-LL structure by breaking the 249.2 high.. but the larger LH is still intact at 290 levels
- UNFILLED GAP at 236
- Price has just reclaimed 200 DEMA
- Price is still trading below the Cloud.. Cloud resistance is placed at 260
- SuperTrend is at 260
- Price is still trading below the falling trendline (connecting 327 and 291)
I have marked both of the Harmonic pattern possibilities that meets the criteria
- Gartley - The RED one.. target is placed at 261
- CRAB - Target is at 320
In my view, Price has a huge supply at 265-270 levels..
Price is now trading in the range of 200 to 270 band.. use the extreme ends for LOW Risk trades
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
TF: Daily
Observations:
- Price has broken Swing low at 224 and bouncing up in three wave structure
- Price is trading below the rising channel/trendline
- Price has negated the LH-LL structure by breaking the 249.2 high.. but the larger LH is still intact at 290 levels
- UNFILLED GAP at 236
- Price has just reclaimed 200 DEMA
- Price is still trading below the Cloud.. Cloud resistance is placed at 260
- SuperTrend is at 260
- Price is still trading below the falling trendline (connecting 327 and 291)
I have marked both of the Harmonic pattern possibilities that meets the criteria
- Gartley - The RED one.. target is placed at 261
- CRAB - Target is at 320
In my view, Price has a huge supply at 265-270 levels..
Price is now trading in the range of 200 to 270 band.. use the extreme ends for LOW Risk trades
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.