Thursday, 7 April 2011

Long or Short ?


BPCL has moved out of a downward channel and successfully moved above its 50 DMA. The stock is making higher-highs and higher-lows after touching bottom in Feb. But, the stock is facing resistance at current level. Perhaps, crude price will determine future direction.


BHEL has broken the down trend line with some good volumes but faces immediate resistance at Rs 2300. Failure to breach that level may pull it down.