Friday, July 27, 2012


India Stock trading idea : Short BHEL

I am finding some weak charts out there in the Indian markets. I posted about Tata Motors earlier and now its BHEL’s turn. Yearly chart below

bakedChart

[click the chart to expand]

BHEL tried to crawl it’s way back up to the stiff resistance at around 235-245 range but then got hammered back down.

The volume on the last two bars on the right is picking up and on a decent up market day BHEL gave up all its gain to close in red. There is a minor support coming in at around 200 which is the previous low but I don’t think its going to hold. The RSI is in oversold territory so you might get a minor bounce but that will be the opportunity to short. I would think the RSI will show a reading above 50 and that would be an ideal time to short. I wouldn’t wait till RSI is all the way in the overbought territory this time.

Stop loss at 251.

First target 200 which will break and then just wait for the slide and take profit on any signs of exhaustion.

Good luck!

11 comments :

  1. Is really good, I love your website! Thank you so much for sharing and imparting.
    Stochastic Oscillator

    ReplyDelete
  2. Take your time for research because this is the only means that will allow you to obtain the accurate data that you need for success. getting into penny stocks

    ReplyDelete
  3. Utilizing a basic equation can do estimation of market capitalization of stocks: Number of surplus offer in the market X stock statements. stock market reviews

    ReplyDelete
  4. The idea of perception is important, especially in investing. As you gain more knowledge about investments, visit CapitalHeight

    ReplyDelete
  5. Youre so cool! I dont suppose Ive read anything like this prior to. So nice to uncover somebody with many original thoughts on this subject. realy appreciate beginning this up. this fabulous website are some things that is required on the web, an individual with some originality. valuable work for bringing something new for the net! Swing Trade Alerts 

    ReplyDelete
  6. Heya i’m for the first time here. I came across this board and I find It really useful & it helped me out much. I hope to give something back and aid others like you helped me. stock future tips

    ReplyDelete
  7. I just read through the entire article of yours and it was quite good. I will visit your blog regularly for some latest post. For more information, visit - Nifty Market Tips

    ReplyDelete
  8. I was very pleased to find this site.I wanted to thank you for this great read!! I definitely enjoying every little bit of it and I have you bookmarked to check out new stuff you post  Stock education

    ReplyDelete
  9. You are so cool man, the post on your blogs are super great.”~`”, usd to cny

    ReplyDelete
  10. I found so many interesting stuff in your blog especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the enjoyment here! keep up the good work... Curso de Bolsa Malaga gratis

    ReplyDelete
  11. Your Trading Psychology will improve as your exposure to the markets improve, of course I am referring to LIVE Trading with real money.forex robots

    ReplyDelete