BHEL- Moving towards 100
Updated
BHEL is an engineering company which manufactures integrated power plant equipments. It is segments include in Power which comprises of thermal, gas, hydro, and nuclear power plant businesses and also in industry segment which caters equipment supplies for various industries, including transportation, transmission, defense and aerospace, downstream oil and gas, power, renewables, energy storage, and electric mobility, among others, and petrochemicals. BHEL is debt free company with more than 60% promoter holdings and has a strong balance sheet enabling it to report stable earnings and growth across business cycles.Also the recovery from its 52 week low is very high and now near its 52 week high . In the technical point of view its comfortably placed above its key moving averages- 50EMA and 200DMA. Recently it signed an agreement with volvo commercial vehicles. Also got the orders for the assembled sets of Vande Bharath train . Altogether it is showing a strong and clear signal of movement towards 100 .
Trade active
RetestingTrade active
Retesting the R2 lineTrade active
150 levels can be expected soonTrade active
Now @ 110..More to come
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.