Nifty Hourly Chart
Nifty is indicating a breakout from the trend line in hourly chart. Indicator like RSI has given buy signal. So today's closing of Nifty at 4948 has confirmed short term uptrend.
Nifty Daily Chart
Nifty has bounced back from 4800. Nifty has managed to close above 4940. Now the target will be 5000-5150 and 5200.
BHEL
BHEL is consolidating in a narrow range. Indicators like MACD and Stochastics are showing the signs of short term uptrend.Buy BHEL only if closes above 1791 target is up to 1900(level 1900 was acting as support earlier and now resistance.) in short term stop loss below 1750.
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