Godrej Industries is approaching its trendline resistance as shown in below daily charts. Trading range is getting smaller and in a tight range.Range breakout should happen on either breakdown or breakout.
Buy above 198.5 Tgt 201,206 and 212 SL 196
Sell below 186.1 Tgt 181.4,176.7 Sl 188
Laxam Rekha for BHEL 50 SMA@2068 as clearly mentioned on charts.BHEL is unable to cross it and getting resisting at this level.On Lower line it is forming a higher lows .
Indicators are giving incnclusive indication
Buy above 2068 Tgt 2085,2107 SL 2045
I have a doubt regarding BHEL, isnt it forming a right shoulder of a bearish Head & Shoulder pattern
BHEL is forming inverted HnS but i have very less faith in this pattern.
I believe in Price and Volume action more.