BHEL

Wave count of BHEL shows wave iv developing. In these situations wave iv of the previous rise is the key support and that is near 35 and the lower Bollinger band is near 34.32. Next move up is wave v of iii again, till we complete a 5 wave advance which involves 5+4+4+4, or +4 legs in total. And that will be wave 1 of a larger bull market advance when it is complete. i am more interested in that long term setup because after all this is a value wave investment discussion. Important for this rise to complete an impulse to confirm that of course.