Get started
BHEL
Long

Ripe for an up move?

By ashishrpurandare
Updated
BHEL
On long-term charts price has been in a downtrend since more than a decade and has fallen in range of all time lows. It has seen good volume and support in all time lows range. If it manages to break and sustain above 42, then a change in trend can be seen. 26-28 can act as support area. Breakdown below that levels can negate the view.
On short term (daily) charts, price has broken a 12 month long range and is presently trying to sustain above the breakout levels.
Trade active
On daily timeframe, stock has currently managed to break and sustain above 42. But couldn't move above 44.5 which was previous high in July 2020. Further upside will be possible if it moves and sustain above 45 with good volume.
Trade active
Price has comfortably broken 45 levels and has managed to sustain above that. Trailed SL is now below 44 levels on closing basis.
Chart PatternsTechnical IndicatorsTrend Analysis
ashishrpurandare

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.