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Buy Bharat Heavy Electricals

On the back of this improved performance and technical structure, we are recommending a buy for short to medium term.


BHEL posted stellar performance in Q1FY19. During Q1FY19, its net profit zoomed 93 percent to Rs 156 crore from Rs 81 crore on a YoY basis on 8 percent higher income of Rs 5,790 crore.
Its order booking increase by two and half time to Rs 4,371 crore compared to Rs 1,744 crore in the corresponding quarter last year.

BHEL has a total order book of Rs 117,000 crore by end of Q1FY19. It has formed small inverted head and shoulder pattern on the daily chart which is bullish in its nature. On the back of this improved performance and technical structure, we are recommending a buy for short to medium term.


MORE WILL UPDATE SOON!!
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