Tomorrow's opening will in all probability be a gap- no marks for that - but which side is a 'million dollar question'!!
Among the various stocks which seem to have found their feet in the recent fall during the past month is BHEL
From the above chart you would observe that there are multiple supports at 1340 levels. The RSI and MACD have also shown positive divergence and i expect some more upmove.
Moving average resistance will be near to the 1800-1850 level and i expect that at that level the positive divergence should get completed.
The stock closed at Rs 1600 and the break out level is at Rs 1615. keep a stoploss at Rs 1490 and exit near 1800-1840 levels
Happy trading !
CA Rajiv D Khatlawala
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