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BHEL

28 Jan 202104:12 PM

For BHEL wave ii of 3 managed to pull back to 61.8% retracement near 35, and then close positive completing an a-b-c decline. This sets it up for a minor wave iii up that should be another 5 waves. The initial resistance may be at the 20 DMA near 38.77. Wave iii=i points to 48.40. The RSI near 45 is also like a double bottom. 

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