Bhel

29 Agu 2021

Bhel could be a good candidate for short term investment pick, the stock fell to 78.6% retracement of the last rise and then developed positive divergence in rsi along with trendline breakout with good intensity of volume, and most probably now it's going up to make higher highs and higher lows, bkp is also formed in daily time frame, once it crosses mid bollinger then it would be a more effective as presumed, there are little resistances at 55.25 & at 60-62, above that it can fly more freely towards 100+ range.

Wave Structure is likely to be

Retracement levels

Macd in daily positive crossover and Uptick

Bullish rsi divergence

Rsi Uptick in daily

Rsi Uptick in Weekly

Bkp is formed in daily

Breakout with Good intensity of Volume in daily

Breakout with Good intensity of Volume in hourly



Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing