BUY BHEL @ 68.7
SELL YESBANK @ 205.2
Buy : Bharat Heavy Electricals Limited
Traders with a short term horizon can consider buying BHEL at current levels. On weekly closing i.e. Friday 15 Mar’19, BHEL has gained 0.82% and got stable level @ 68.7 above 21 & 50 Day Moving Average with a Bullish Engulfing Pattern. This support level was tested by the stock several times in the past. Heavy buying on the stock shows the Bullish sentiment about the stock. Relative Strength of the Stock is currently in Positive Zone @ 55.65. Risk to Reward ratio for this opportunity is 1.9% which is a excellent buy.
Current Price : 68.7
Target Price : 74
Stop Loss : 66.0
Sell : YES BANK
Traders who are holding YES BANK into their portfolio with short team trading perspective should sell their Stake in the company now. As the Stock has made Bearish Engulfing Pattern on weekly closing i.e. Friday 15 Mar’19. Relative Strength of the Stock was in overbought zone @ 71.28 on Friday and stock lose 1.92% on the same day.
Moving Average Convergence/Divergence is also in higher zone with downtrend signaling. Stock now can test Rs. 230 level once again which is 21 Day Moving Average of the Stock.
Current Price : 205.2
Target Price : 230
Stop Loss : 254
As per my Last Idea on Stocks about Unichem Lab went right and the stock touched the given target of Rs. 212. After that overall Nifty Market was trending down. I still remain my buy call on NESTLE INDIA at current levels as this stock will surely go up in next 2-3 Months and will return you 12-15%.
Note: Above mentioned ideas are based on Technical or Fundamental Analysis however, Stock market is always volatile and risk is always included in the investment. Author is not liable for any losses.