BHEL Chart set up and view

16 Tem 2021

BHEL
CMP 66.60

Observations

- Long term trend is up

- currently in short term down trend

- trading between 20 day EMA (in yellow) and 50 day EMA (blue)

- there was a big gap down on 14 June 2021

- that zone may act as resistance for some time

- thereafter the stock has struggled to get past the orange line around 69.60

- the yellow zone is where the stock has support zone

- buying may be considered around 56-59
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Trading Strategy

- on any further rise especially towards 69.50, if I see the price getting rejected, then I would consider selling

- if price gets rejected at 20 day EMA itself, I might consider selling OTM Call options

- I would consider buying if the stock comes towards the yellow zone


Take care & safe trading...!!!

16 Tem 2021

İşlem aktif

72 Call option sold at 1.15

19 Tem 2021

İşlem aktif

72 Call option
Has come down from 1.15 to 0.55

Profit of 6300/- per lot so far

Happy trading..!!! 🙂

2 Ağu 2021

İşlem kapandı: hedefe ulaştı

Selling 72 Call Option gives desired results.
Profit of Rs 12075/- from strategy

2 Ağu 2021

Not

As discussed in the idea above BHEL has come in the yellow zone