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.
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.