Technical Outlook & Trading Strategy:-
The share price of BHEL has broken below its critical support level of Rs 1660. In simple technical outlook, violation of important support should indicate further price declines.
We believe that the stock price could decline to the next support levels of Rs 1600 / Rs 1570 in forthcoming trading session.
Short positions are recommended at current levels and on pullbacks to levels of Rs 1670- Rs 1680. We recommend a stop placed above Rs 1702.20
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