Wednesday, March 15, 2017

19% gains in BHEL - Inverted Head & Shoulder breakout

We had recommended BHEL on breaking out of Head and Shoulder pattern on 30 Jan 17. 

Today the stock is trading at 165. Thats a gain of 19% since we recommended the stock.

You can check the article which was written then below

Bhel was trading in a downtrend on daily chart since Sep 16. Stock was trying to get into a new cycle of higher top higher bottom from its existing downtrend. For short term, the current Head & Shoulder breakout can act as confirmation to this theory.