Bharat Electronics stock managed a
stunning move from 923 to 2252 – Previous all time high – all in span of
5 months between Feb 2014 and June 2014. After such a strong move and
resistance at all time high – the stock witnessed some selling and
pulled back to 50 dma. Does this present an attractive trading
opportunity? The answer seems to be yes
TRADING STRATEGY : BUY BHARAT ELECTRONICS BETWEEN 1750-1850 WITH A CLOSING STP LOSS AT 1700 FOR TGT 2000-2200-2500.. IN FEW MONTHS TIME ( ONLY FOR PATIENT TRADERS)
Here’s the BEL daily chart
As you can see in the chart above: Bharat Electronics has taken a double dip support at 50 dma. One can make an assumption that stock will rally back to PD High of 2252 if it does not break down below 1700. The closing stop loss should be placed below 1700
TRADING STRATEGY : BUY BHARAT ELECTRONICS BETWEEN 1750-1850 WITH A CLOSING STP LOSS AT 1700 FOR TGT 2000-2200-2500.. IN FEW MONTHS TIME ( ONLY FOR PATIENT TRADERS)
Here’s the BEL daily chart
As you can see in the chart above: Bharat Electronics has taken a double dip support at 50 dma. One can make an assumption that stock will rally back to PD High of 2252 if it does not break down below 1700. The closing stop loss should be placed below 1700
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