BHEL- CMP 40.5. Cup and Handle pattern followed by consolidation

Jan 20, 2021

BHEL- CMP 40.5. It made cup and handle pattern which is followed y consolidation. It is in the process of break out. Todays cash volumes are higher than previous 4 days average volumes on increase in price. Today it came out of F&O ban which is a positive sign since trading in F&O is allowed. Today during last hours of trading it went up by making higher ups and higher bottoms, green candles, also closed at day's high. All these are indications for following up buying. It shall break out of consolidation range and shall go to the 42.25, 44.2, 47.45, 52.4, 56.5 with a stop loss of 36.9. This is for educational purpose only any trading shall be done with advice of financial experts.