Two years line chart has been considered for seeing the trend of BHEL share. I have noticed the script is in down trend. However, to analyze the trend by using Dow theory, I have plotted major tops and bottom. On 30 October 2019, Rs 58.8 is the low top and on 31 January 2020 I have noted the share price was dropping down below Rs 42.1 the stock has broken the previous low. At this price, I have short the share, having stop loss of Rs. 58.8 and Target of Rs 24.9 (to have reward little higher than difference between stop loss and entry price being the risk)
BHEL – DOW THEORY – DOWNTREND
