Oct 25, 2013, 12.25 PM IST
According to IIFL, traders can sell BHEL October Futures below Rs 138 for target price of Rs 130 with a stop loss of Rs 142.
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Sell BHEL Oct Fut; target of Rs 130: IIFL
According to IIFL, traders can sell BHEL October Futures below Rs 138 for target price of Rs 130 with a stop loss of Rs 142.
Like this story, share it with millions of investors on M3
Sell BHEL Oct Fut; target of Rs 130: IIFL
According to IIFL, traders can sell BHEL October Futures below Rs 138 for target price of Rs 130 with a stop loss of Rs 142.
"On the daily chart, BHEL has reversed from the resistance line which coincides with its 100-DMA, suggesting that the likelihood of further upside over the short-term has diminished. For now, the risk/return of establishing long positions is less than ideal. Moreover, the stock has broken below the small consolidation pattern between Rs152-142. It presents great opportunity for the traders to jump in on the downtrend. An occurrence of this event indicates further selling and continuation of the downtrend. (Duration 5 days)," says IIFL research report.
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