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Last Updated : Aug 27, 2018 10:59 AM IST | Source: Moneycontrol.com

Buy Bharat Heavy Electricals, target Rs 105: Shabbir Kayyumi

Traders and investors can buy this scrip at Rs 80 with the stop loss at Rs 64 for the target of Rs 105, says Shabbir Kayyumi of Narnolia Financial Advisors.

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Shabbir Kayyumi

Narnolia Financial Advisors

Bharat Heavy Electricals (BHEL) has given falling channel breakout after giving short-term consolidation on the daily chart. From last few days, it has been trading above from all its important moving averages which is showing further impetus on the upside.

On the weekly chart, long bull candle suggests further bullishness in coming sessions. Moreover, RSI has given trend line breakout and it is also sustaining above 9 days EMA which all giving cues for upside momentum.

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By looking at all these factors, traders and investors can buy this scrip at Rs 80 with the stop loss at Rs 64 for the target of Rs 105.
Disclaimer: The author is Head - Technical & Derivative Research at Narnolia Financial Advisors. The views and investment tips expressed by investment experts on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


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First Published on Aug 27, 2018 10:59 am
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