Once red hot quickly work the area with hammer and dolly to gather the metal into the centre of the cherry then deliver a swift blow to the centre of the heat shrink to push the metal back into itself.
How to shrink sheet metal with a torch.
Do not over heat the steel.
Propane can do the same thing although it is a much more.
Although dent shrinking can be achieved with a shrinking disc or a spitzenagle stud nailer gun in order to shrink a bead you will need a heat source that produces a flame.
Why not just heat it and gently hammer the swell down.
This takes away some of the stretch.
Get used to this idea and your abilities will grow.
Then take your teardrop mallet and make one hard blow on the metal driving down and towards the outside of the bowl.
The bulge can then be tapped down flat with a hammer and dolly to thicken the metal in that spot.
A common recommended fix is to use oxy acetylene heat to create a localized hot spot that bulges the metal above the mean surface of the panel.
Device to hold your torch safely while you re doing the hammering operation.
This works the other doesn t.
Start by placing the sheet metal over the bowl so it covers the bowl and lays as flat as you can hold it.
I use a jack stand with a trim panel pry tool clamped to it to hold my torch.