W Bottom BHEL

15 May 2021

BHEL
The Daily chart in BHEL shows a clear-cut W bottom pattern.
Let's call the first cable which crosses Neckline as Point A, and the first support as Point B.
when the candle finally crosses the neckline after creating W bottom draw a line from point a to point b. and place it above the neckline that shows the target. It's clearly seen that it has given a significant profit of 58%.