BHEL is in a downtrend channel from 11th April with a continuous series of lower waists. But at the same time two things can be noticed here:
a. A rising shoulder pattern is forming which means if the price crosses above 27.60 then we might see a bull run.
b. Price is trying to cross the red zone and about to enter into a green zone which is also a bull sign but at the same time this move can be stopped at the upper channel.
The current resistance is at 46.50 whereas support is at 21.
BHEL
a. A rising shoulder pattern is forming which means if the price crosses above 27.60 then we might see a bull run.
b. Price is trying to cross the red zone and about to enter into a green zone which is also a bull sign but at the same time this move can be stopped at the upper channel.
The current resistance is at 46.50 whereas support is at 21.
BHEL