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Elliotwaveanalysis

BHEL: High Return Idea upto 52%BHEL is moving higher in impulse trend. The Trend for BHEL is positive and the best of the trend is behind us. Prices are currently moving in the form of wave 4 retracement. Time cycle are the crucial areas of reversal and for Bhel it is due on 25th march. So the up move has still more room to cover and we can expect the stock to reach towards the level of 300/320+ in the form of wave 5 by next 4/5 months. Over short term dips can be used as accumulating opportunity with 200 as immediate support with a stop below 170 on weekly closing basis.
NSE:BHELLong
by Chinmayonniftyy
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