Chart Idea – BEL
Overview: From the weekly development of the chart, we can see that market is in an uptrend line and showing the aggressive side of the bulls and makes the market aggressive.
Buyers can go for the buy-side in the market.
Technical Analysis: From the technical perspective, we can see that stock is trading and moving above all the major and minor EMA lines and heading north side. Odds are favoring the bullish trend. The uptrend is lying and suggesting us to keep the bullish view and buy on dips is an advisable strategy. The chart is forming head and shoulder pattern. They are bulls are doing clear neck level at 120
The MACD indicator is showing a bullish crossover of the zero lines which is also favoring the bulls.
|
Based on the chart and studies we would recommend our traders and investors to go long at 130.50. Target is 180 and 190. Stop loss below 115 level. |
Above the free chart, the idea is only for education/knowledge purposes. Kindly read disclaimer on our website before trading / investing in the same.
