High Probable Chance for Breakout
Bullish above 260.5
Very affordable risk reward set up ...
Keep it on RADAR...
Monthly Chart : Morning star Pattern formation also confirm if breakout will come...
Lockdowns in india will unlock and this is predefined view and PRice volume action wise also Very nice breakout..
200 EMA also above breakout...
BHEL was on a downtrend for the past two months and 200 EMA was acting as a dynamic resistance and it was tested two times before todays breakout with high volume . And it was creating higher lows from November 4th.
ABOVE 30 BHEL looks bullish.
TATA Motors has picked up positive momentum after taking support from 200EMA.
Price crossed 50EMA and formed Bullish Engulfing candle, signifying positive momentum
Basis Fib levels, a minor resistance can be seen at 139-140 level, once breached it can go Up, near to resistance zone 150 in next two weeks.