Technically, Bhel (CMP: 119) need to stay over 122-125 zone for 135-152 area; otherwise, it may face selling pressure after nearly 35% rally from the recent bottom (around 90) and sustain below 115-112, it may again fall to wards 105-90 area in the near term.
Trading Idea: Bhel
CMP: 119
Either sell below 122-125 or on rise around 135-148;
TGT: 112-108-105*-99-93-88*-83-70 (1-3/6M)
TSL> 152
Note: Consecutive closing (3 days) above 152 for any reason, Bhel may further rally up to 175-188 & 198-222 in the near term (alternative bullish case scenario).
Analytical Charts:
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