BHEL- possible bear flag in formation
Observe the 1st circle where a bear flag formed and got resisted at the bollinger band average. Similar bear flag is forming off lately and that too around the same bollinger average area.
If the trade plays out then possible targets are 2000, for this to happen the stock must not trade above the bollinger average for too much time.
Speaking of support there is support at 2100 and the next resistance is at 2311 and then at 2400.
So watch for BHEL I think it’s a bear flag in making
No comments:
Post a Comment