Monday, 15 July 2013

Elliot Wave Count : Bhel

Bhel chart:

Hourly Chart:

 Daily chart shows has given breakout to inverted heads and shoulder pattern n. On the down side 

Support at 

21hema: 185 

5 dema :185.5

5 day low ema and 5 week close ema :183

Resistance at : 

5 week high and 5 day high ema : 188

34hEMA : 186 

So it can be concluded that 183-185 is a support zone for the share and 186-88 is resistance zone for the script. Elliot wave suggest we can have one more leg (WAVE c/3) upside. 

BUY above 188 target 196 sl 185 

So, plan your trade accordingly.

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