Sunday, January 29, 2012

When to buy BHEL? | Technical Chart | 30-Jan-2012

Below is the technical chart of BHEL, listed on Indian stock exchange, using Ichimoku Kinko Hyo indicator.








As seen in its technical chart, price is unable to cross kumo, which is its main resistance on daily chart. So, it must CLOSE above 284.20 to give buy signal. On the downside, support is at 259, which should be the stop-loss after buying. 

So, sit on cash for this counter and wait for right opportunity.

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