Traderanit
Long

Rising shoulder in BHEL

NSE:BHEL   BHARAT HEAVY ELECT
BHEL is in a downtrend channel from 11th April with a continuous series of lower waists. But at the same time two things can be noticed here:
a. A rising shoulder pattern is forming which means if the price crosses above 27.60 then we might see a bull run.
b. Price is trying to cross the red zone and about to enter into a green zone which is also a bull sign but at the same time this move can be stopped at the upper channel.
The current resistance is at 46.50 whereas support is at 21.
NSE:BHEL

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out