Bharat Electronics Limited is a state-owned electronic, aerospace and defence company with focus on developing and manufacturing electronic, opto-electronic, radar and C4ISR systems. The primary customers are the Indian Armed Forces, Indian Government and the Governments/ Militaries of friendly nations.
Although, the stock price has been in a state of decline...
Stock has broke a long time trend line and closed above the trendline with good volume which indicates a possible shorterm uptrend for few trading sessions. Positional buy above 102 for targets of 109 & 113 in transaction + 5 days, keep SL at 96 (closing basis).
BEL HAS BORKEN KEY LEVELS OF SUPPORT ON MONTHLY,WEEKLY
NEXT SUPPORT ZONE IS 106-91 APPROX
IF BREAKS THIS ZONE THEN IT WILL BE IN LONG TERM BEAR ZONE.
INVESTORS LOOKING TO INVEST ON THIS STOCK SHOULD REFRAIN ENTERING THIS STOCK AT THIS MOMENT. LOOK FOR ENOUGH BUY MOMENTUM ONCE IT REACHES SUPPORT ZONE TO MAKE FRESH INVESTMENT.
Greetings Friends . BEL is now trading inside a Channel . If the support holds on we can see a rally up to the resistance zone again. If the market breaks the support, we can short the market. Hope y'll find this useful . G'day .
Bharat Electronics' ( BEL ) stock is stuck between 1000 and 1400 for past one and half year. Jump from 300 to 1300 was swift but then some reality caught up. Usual market buoyancy and fertile ground for equities due to central bank policies has made the valuation part confusing. As we mentioned earlier that it is futile to fight easy money and stock market will...