priya Priya is a Stock Market Analyst and professional blogger. She is the Founder and Author of www.analystcalls.in

BHEL Technical Analysis November 2011

30 sec read

BHEL is a heavily beaten stock in since 52 weeks. It has lost almost 50% in one year. Now trading at 298. It is very difficult to digest these kind of moves in a stock which is one of the major movers in Nifty-50.

It has strong technical support at 240 levels. In other words 15% from here on. If it falls more than 15% then it will enter into danger zone.

 
For the investors those who want to enter freshly at the current levels should maintain 15% stop which comes around 240-250. So average with that stop when it falls.

Up-move will unfold above 330 levels. Even monthly Ichimoku chart it has been trading below resistance of 360s.

BHEL Monthly Chart

BHEL Monthly Ichimoku Chart

About the Author : Priya is the Technical Analyst and author of Analystcalls and often writes guest posts for Marketcalls.

 

priya Priya is a Stock Market Analyst and professional blogger. She is the Founder and Author of www.analystcalls.in

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