Technical View: • NSE:BEL is in its primary uptrend since long time and was recently going through it's secondary downtrend. • After touching the life time high of 216.45 on 11-Mar-2024, it has retraced 17% to 179.10 level. • NSE:BEL has broke out from its secondary down trend on 21-Mar-2024 with higher than average volume. • RSI has crossed over 50 on 21-Mar-2024. MACD has crossed over 0 on 26-Mar-2024. • On 28-Mar-2024 it has closed above 20 DMA. • Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
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2-Apr-2024 -------------- LTP: Rs. 221 1st target of Rs. 216 reached. 10% up from suggested level. NEXT TARGET: Rs. 240
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23-Apr-2024 ----------------- LTP: 234.35 BEL very close to 2nd target. 16% up from suggested level.
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25-Apr-2024 ----------------- LTP: Rs. 237.60 2nd target of Rs. 240 reached. 18% up from suggested level. Technicals are still looking good. If able to sustain above 240 level then 277 can be possible. NEXT TARGET: Rs. 277.
Trade closed: target reached
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30-Apr-2024 ---------------- Chart is looking bearish. Failed to cross 240 level. Exiting and closing the call to book profit @ 233.80 (+16%).