1. BHEL took support at the levels of 42.0 to 42.30 in October 2019. These were pre - Covid times.
2. BHEL took support at the same levels of 42.0 to 42.30 in the 1st week of Jan 2020. Again, the market has not yet started responding to the Covid pandemic.
The support was finally broken in February and BHEL reached the levels of 19.20. From there it made a...
BHEL- CMP 42.95. It has made reverse head and shoulder pattern on daily charts. It formed double top recently at 44.3. Breakout level is 44.3 If it crosses and stays there for some time then breakout happens. Its targets and SL are given on chart. Yesterdays cash volumes are good. Till yesterday it was in F&O ban and during ban generally price breakouts do not...
Buy for long term with stop loss below 26 for target 5-8 times of risk.
Short term stop loss will be on close below 35.
Long term EMA has started trending up. Price is abv all EMA . Inverted H&S breakout on weekly chart. Higher top higher bottom started .
Breaking about 3-4 years of Channel with heavy volume and is above the support level.
The up move will easily give us around 60% of returns.
Make Aggressive Buy around 43-47.
StopLoss and Targets are mentioned.