Similar to Nifty view and trading strategy, BHEL can be looked at from Moving Average angle.
- stock is trading above 20 day EMA and
- today has managed to closed above it's 50 day EMA
Based on Moving Average play, Short term target potential: test of 200 day EMA (around 54.8 to 55.05)
Closing above that could open doors for further up movement towards 58.2 / 61.50
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F&O trading strategy
Given the set up, One may consider to sell 30 June expiry 50 Put option
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SL for Equity as well as F&O trade: if BHEL closes below 50 on daily charts
Set up provides good Risk::Reward ratio to go long
Take care & safe trading...!!!
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Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
