BHEL : bullish after this breakout

17 Ara 2024

• INVERTED HEAD AND SHOULDER pattern Breakout -
  
  the stock has broken out of the inverted head & shoulder pattern with gap-up indicating bullish momentum for the stock till the target is reached
  
• 50D SMA SUPPORT -
  
  the price has repeatedly taken support from the 50D sma line for last few days signaling upside potential for the stock
  
• REVERSAL FROM FIBONACCI RETRACEMENT LEVEL (0.5) -
  
  price has recently reversed from the 0.5 fibonacci retracement level with perfect accuracy which denotes bullish momentum for the stock after the reversal
  
  
• PROFIT -
  the target is 266.90