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<p>BHEL on NSE fell below the lower line of the recent pattern making it best fit a leading diagonal as suspected. Then wave 3 started and 3=1 goes to 60. But rallies following leading diagonals are often extended so do not rule out that wave 3 will be 161.8% of wave 1, which would be closer to 75.</p>
<p><img src="https://api-media.indiacharts.com/public/images/article-images/bhel68738.png" alt="BHEL on NSE fell below the lower line of the recent pattern making it best fit a leading diagonal as suspected. Then wave 3 started and 3=1 goes to 60. But rallies following leading diagonals are often extended so do not rule out that wave 3" width="699" height="547" /></p>