BHEL: Results are bad but can it be buy on bad news...!!!

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BHEL
CMP 90.30

Results are bad and stock has seen some beating... but will it fall further... or we have heard of sell on good news... can this be a buy on bad news and will it rise against the odds...???

Lets see what the chart is saying...

- we observe 20 day EMA recently crossed over 50 day EMA giving some strength

- Currently 20 day EMA is at 92.2 & 50 day EMA is at 90.10

On long term charts

스냅샷

80-84 zone looks like long term support

Only a breach below that will signify something wrong for BHEL. Till then possibility of moving towards 106 / 120 looks feasible...

Take care & safe trading...!!!


Below are links to previous BHEL updates

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