Bhel Stock Price : Technical Analysis - Sell or Buy

Bharat Heavy Electricals Limited has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The stock has built a double bottom formation and given signal of further rise to 88.67. On reactions back, there is now support at 78.05. 

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It also gave positive signal from the inverse head and shoulders formation at the break up through the resistance at 75.45. Further rise to 89.22 or more is signaled. The stock has broken up through resistance at rupee 76.00. This predicts a further rise. In case of negative reactions, there will now be support at rupee 76.00. Volume has previously been high at price tops and low at price bottoms. 

This strengthens the stock. The stock is overall assessed as technically positive for the medium long term.