Technical Analysis:BHEL,Hindalco Industries,Elecon Engineering and Orchid Chemicals

By | October 13, 2010

BHEL

BHEL has pulled back sharply near 2550: breakout point. Another Example of Resistance becoming support in a Bull market.

Stock took support at 2550 where it made a breakout

Buy above 2576 Tgt 2605,2627 and 2666

ELECON ENG

ELECON gave a good breakout yesterday with volumes above 99.5 which had been elusive for almost 2 years.

Buy above 101.9 or near 98.4 Tgt 103.4 and 106.8

HINDALCO INDUSTRIES

Hindalco as per our 5 EMA Strategy has closed above 5 EMS HIGH and can head higher as nifty is bound to cross 6300.Dollar weakening is a good sign for commodity to rise.

Buy 216 Tgt 218.7,220.4 and 223

Orchid Chemicals

Orchid Chemicals is forming a Breakout triangle Formation with resistance at upper trendline.Stock is having good price and volume actions.RSI is in buy zone

Buy above 301 Tgt 306,314 and 326

4 thoughts on “Technical Analysis:BHEL,Hindalco Industries,Elecon Engineering and Orchid Chemicals

  1. bramesh Post author

    Opto support at 304 Resistance @ 324
    Himat gave a breakout today buy on pull back till 50 tgt 63

  2. chandramouli gadigi

    please give your opinion about glodyne technoserve,opto circuits,indo solar,himat singka seide

  3. bramesh Post author

    Hi Rahul,

    I generally do not specify SL as SL depends upon one’e risk profile and one can take 3% and other trader can take .5%

    It all depends on your trading plan.The script where i see mometum and price volume action i update on my site

    Rgds

  4. Rahul Shah

    Where are the stop loss (SL) specified in todays scripts? i.e BHEL, ElECON ENG
    Without stop loss how can one trade??
    Please specify a stop loss in the scripts too.

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