After collecting the data for the past 2 years, we can see the overall trend of BHEL to be bearish.
We look for Lower Top – Lower Bottom sequence.
We can lock in our entry point or sell at 75.2 and put stop loss at 83.6 taking a risk of 8.4 rupees. We set a target of 8.4 rupees to buy at 66.8.
The duration of this trend was 37 days.