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

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. 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

  2. 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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