Trading Calls: Tech Mahindra, BPCL & BHEL No ratings yet.

Trade Date- 16/04/2018

(1) Tech Mahindra: The stock has broken out of a consolidation range and is looking strong in short term. Fresh longs may be initiated above the latest resistance of 674/- for targets mentioned below.

Technical pattern: Price breakout

Action

Trigger Price

Stop Loss

Target 1

Target 2

BUY >674 660 687 705

(2) BPCL: The stock has formed a bearish candlestick on daily and weekly charts and lower levels may be seen in the counter below the immediate support level of 400/-

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <401 420 380 360

(3) BHEL: The stock has entered in an overbought zone and looks ripe for a down move in short term. The counter may be shorted below the immediate support level of 88/- for targets mentioned below.

Technical pattern: Overbought indicators

Action

Trigger Price

Stop Loss

Target 1

Target 2

SELL <87.90 89.50 86.70 85.00

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Author: Traders' Chowk

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