Bhel:  

from the year 2000 bhel started it upward journey and there went to 600 levels n the year 2008 and from there it was started correction. Bigger wave 1 may be completed at 600 and from there bhel may be in wave 2 till now and within wave 2 it has already completed its wave a, wave b and wave also may be completed.So now according to ewt bhel have to start its wave 3 to cross its life time high 600 levels

conclusion:

As explained above bhel has completed its wave 1 and wave 2 and wave 3 has to be start from these levels 

so now bhel can be brought for long term prospective at these level for 3-4 years time view expecting a arget of above 600 and sl must be below 98-90 levels