Description
⋅ BHEL is making inverted head & shoulder pattern on daily time frame.
Also on weekly basis , inverted head & shoulder can be drawn (right shoulder with slight more deep due to volatility).
One can go long BHEL above 80 with target of 91, 105 ,120+. Stop loss can be at 63. Time frame 3 months.
RSI is favorable, MACD also becoming favorable. Price taking support on DEMA 9.
If earning comes out to be good then we can see BO on charts.