BHEL Update

After the results BHEL witnesses a sharp setback. It is now back to the 20dma at 39, which should be an important support for the trend going forward. If it holds then I maintain that wave 3 is going on and we dipped in minor wave ii of 3. But if it breaks I will mark the entire advance from the November low as a leading diagonal and wait for wave 2 down to complete before anticipating wave 3 of 3 up again.