BUY BHEL for target 2650

[DIPIN]

Hi All

One can initiate long in BHEL at the current levels i.e 2530 and buy upto 2500 with stop loss 2475 and target 2590 and 2645 in the near term.

It will find  first support around its 50 DMA i.e 2489,breaking which it can plunge to 2420 wherein it has got a solid support,2420 being its 200 DMA.

Price wise Bhel has been an under performer as far as the current index rally is concerned

Enclosed below is a chart showing breakout in the price above 2500 levels and and the stock trading above all crucial averages

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Dipin Kwatra
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