Uptrend in BHEL to continue: Amit Harchekar, IIFL
If the stock sustains 2640 levels, it may head all the way towards 2895 in near future.
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| In a chat with ET Now, Amit Harchekar, Sr. technical Analyst, IIFL talks about BHEL.
On the charts at 2668 right now, what is the call on BHEL?
BHEL has given a good breakout above 2640 levels and if the stock is able to sustain these levels for a few more trading sessions, we might see it heading all the way towards 2895 in the near future. Again, today’s up move is not backed by good volumes. So probably we need to see further evidence on the volume side but at present since there is a breakout seen on the price chart, the uptrend should continue in the near future.
On the charts at 2668 right now, what is the call on BHEL?
BHEL has given a good breakout above 2640 levels and if the stock is able to sustain these levels for a few more trading sessions, we might see it heading all the way towards 2895 in the near future. Again, today’s up move is not backed by good volumes. So probably we need to see further evidence on the volume side but at present since there is a breakout seen on the price chart, the uptrend should continue in the near future.
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