BHEL- Ascending Channel Breakout- Sell Setup
As seen Bhel has broken out of Ascending Channel in the daily chart a few sessions back, thereby breaking the higher high and higher low price action and gone on to make lower high, indicating short term weakness. Lately, it has formed a descending channel and the stock is expected to move down along the channel.
Expected levels - 117, 110, 104.
Expected levels - 117, 110, 104.
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