HEG trade ideas
SWING IDEA - HEGHEG, a key player in the graphite electrode industry, presents a strong swing trading opportunity
Reasons are listed below :
1950-2000 Strong Support Zone: This zone has proven to be a reliable support, making it a crucial level for price stability.
Bullish Engulfing Candle on Weekly Timeframe: A clear sign of buying strength, indicating potential for a bullish move.
Cup and Handle Pattern Breakout and Retest: A textbook breakout followed by a successful retest, signaling potential upward momentum.
50 EMA Support on Weekly Timeframe: The stock is supported by the 50-week EMA, adding to the bullish bias.
Target - 2400 // 2740
Stoploss - weekly close below 1900
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@visionary.growth.insights
HEG may be in last Leg of consolidation before it can move up.HEG Ltd. engages in the manufacture and exporter of graphite electrodes. It operates through the Graphite Electrodes and Power Generation segments.
HEG Ltd. CMP is 2069.30 The positive aspects of the company are Company with Low Debt, Company with Zero Promoter Pledge, Strong cash generating ability from core business and FII / FPI or Institutions increasing their shareholding. The Negative aspects of the company are High Valuation (P.E. = 40.8), Declining profits every quarter for the past 4 quarters, Stocks Underperforming their Industry Price Change in the Quarter and PE higher compared to Industry PE.
Entry can be taken after closing above 2089 Targets in the stock will be 2200, 2306, 2406, 2502 and 2565. The long-term target in the stock will be 2622, 2658 and 2750. Stop loss in the stock should be maintained at Closing below 1997 or 1922 depending on your risk taking ability.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Go long - swing pick- this stock shows signficant delivery percentage value
- possible chances for accumulation
- may perform good in upcoming days
- line marked in chart is the day it showed huge delivery percentage.i consider it as signal candle.i marked its high and low
entry
- go long with 1:1.5 RR
- take entry if 15min close crosses the line , ignore entry if it made gap ups
- i prefer entry with in 5 days , if not triggered ignore this pick
sl
- candle close below signal candle's low
target
- keep 1.5 times of sl.
#HEG ltd Cup & handle pattern 20-30% upmove dega kya?HEG ltd cmp 1882, market cap 7264 cr, company is leading manufacturer and exporter of graphite electrodes.
PE vs ROCE ratio is better as compared to another leading player graphite India. My concern is the fall in Operating margin trend. Holding% Dec'23 promoter 55.77( 59.62 Mar'21), FII 6.85(9.43 Mar'21), DII 8.85(7.41 Mar'21). Infact some new mutual fund players entered in feb'24 also so Mar'24 DII numbers should be up.
Technically the chart is making cup n handle kind of pattern on weekly time frame and breakout above 1931 can bring fast movement. Upside levels can be 1)2335 2) 2470 3) 2575 4) 2763(imp level) 5) 3108. Once 2763 is crossed I will bring sl of remaining qty at 2470 and try to ride the trend till 3661/4557.
HEG READY TO SHOOT!!!
Wave 1 and 2 complete Wave 2 has retraced Wave 1 by more than 80% and less than 100%
which suffices the Wave 2 retracement rule by Elliott Wave Theory.
Wave 3 extends a minimum of 161.80% 0f the Wave 1 hence Target derived for the Wave 3.
This is the Wave i.e. Wave 3 which every trades aspires to get in as this is the Wave where the profits are maximum.
This is a beautiful investment opportunity with an amazing Reward to Risk ratio.
HEG: Trying to breaking out after consolidationHEG: Trying to breaking out after a good consolidation
In this kind of falling market, HEG is showing some resilience and after good consolidation, today trying to breaking out with good volume.
Buy above 1840 only for a target of 2200 and 2400 with a SL of 1675.
In this market, testing water with HEG. Keep strict SL .
NSE:HEG - Taking trading bet with small stop loss...NSE:HEG
- The focus is on risk management taken in position for pop as part of the PWI Lab portfolio.
- Let's check the company's history to understand what they do.
- Proxy to steel was positive in the past.
- Crude oil can be a spoiler in the current situation.
- Price action is considered as the ultimate authority.
Reversal and breakout possible. Keep on watchlistWaiting for a breakout above for a small trade upside. Breakout of the channel pattern. Enter only after a good closing above 1615.Target of 1830. Stop loss 1564-1560. If the broader market consolidates or falls in next week, stay away and just observe.
Disclaimer: Do your own due diligence. Happy learning.
