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snour
Dec 15, 2023 1:09 AM

Bharat Heavy BHEL is expected to target 229 after crossing 185 Long

BHARAT HEAVY ELECTNSE

Description

Daily chart,
BHEL has accelerated upwards and is probably on a parabolic pattern.
The last candlestick is a Shooting Star, which usually indicates reversal movement. But, it needs a next candle confirmation; Open Price below 180.25 -
The down target will be the support line (RED), 170 or 165 (2 Fibonacci levels - Uncertain!!)

Next movement should be a rebounding to the resistance line (BLUE). After crossing up, the target will be 229.9 (flag pattern)

Stop loss below the support line to be considered.
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