BHEL Classic Example of run away Gap Filling

By | July 28, 2011

BHEL

BHEL i have covered in my previous analysis and wrote that 1890 is a Level to be watched .If it starts trading below 1890 it will see a  severe downfall and which will lead to gap filling.

BHEL has a bad results yesterday and today it starts trading below 1890 and the severe fall came making it trade at 30 Months low.

Gap Filling was expected as soon as 1890 got broken and fall came with a massive volumes.

Gap will be completely filled around 1765 levels.

Never catch a falling knife and till BHEL does not sign of bottoming out please do not buy as a trading bet.

Sell below 1800 Tgt 1777,1750 and 1732

 

Bank Nifty

Bank Nifty now moved to lower end of its trading range and break of 10961 can quickly drag the index to 10865.

Stoch and MACD has generated a fresh sell.

Sell below 10961 Tgt 10860 and 10750

 

Levels mentioned are SPOT levels and SL keep as per your risk Profile

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