#BHEL now bounced from support price and trading in uptrend channel pattern if Stock hold 70.5 resistance level we can see upside toward 74-76 level as per chart and if break 67.8 level we can see downside toward 64 levels.
Stock is in still downtrend..
if you have already long position and long term view you may wait up to 75..
comment your view..
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BHEL HAS BROKEN BULL FRACTAL AND WAS UNABLE TO SUSTAIN THE UPMOVE
STOCK HAS SEEN TO CREATE STRONG DOWNSIDE BASE AROUND RS 80
TILL NOW STOCK HAS NOT BROKEN ANY BEAR FRACTAL AFTER INITIAL BREAK OF BULL FRACTAL.
BIT RISKY TO ASSUME BUY MOMENTUM STILL EXISTS SINCE IT HAS NOT BROKEN ANY OF BEAR OR BULL FRACTAL AFTER ITS 1ST BULL FRACTAL BREAK.
In connection to the earlier chart, looking at this Bearish Shark Pattern being formed, we may work on possible target provided the low is held by the bulls. Always enter the Stop Loss to save capital from unforeseen circumstances.