Date: 17-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 248.2
Targets: (1) Rs. 255 --> (2) Rs. 275 ++
SL: Rs. 221 on daily close basis
Technical View:
•
BEL
is in its primary uptrend and also going through it's secondary uptrend.
• Within the current secondary uptrend,
BEL
has retraced 9% from top and again started the upward journey from 14-May onwards.
• On 16-May-2024,
BEL
has broke out from minor down trend line and on 17-May-2024 it broke the previous 52 week high with very high volume.
• On 16-May-2024,
BEL
has closed above 20 DMA and 21 DEMA. Since then it is trading above 20 DMA and 21 DEMA.
• RSI is trading at 70.91 and MACD is trading at 4.34.
• Looking strong to continue the current uptrend.
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. Ideas are published for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 248.2
Targets: (1) Rs. 255 --> (2) Rs. 275 ++
SL: Rs. 221 on daily close basis
Technical View:
•
BEL
is in its primary uptrend and also going through it's secondary uptrend. • Within the current secondary uptrend,
BEL
has retraced 9% from top and again started the upward journey from 14-May onwards. • On 16-May-2024,
BEL
has broke out from minor down trend line and on 17-May-2024 it broke the previous 52 week high with very high volume. • On 16-May-2024,
BEL
has closed above 20 DMA and 21 DEMA. Since then it is trading above 20 DMA and 21 DEMA. • RSI is trading at 70.91 and MACD is trading at 4.34.
• Looking strong to continue the current uptrend.
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. Ideas are published for learning purpose only.
Comment:
21-May-2024
-----------------
LTP: Rs. 274.15
2nd target of 275 reached. 10% up from suggested level.
MACD, RSI and Moving averages are still giving bullish indication. Can eye 295 as Next Target.
-----------------
LTP: Rs. 274.15
2nd target of 275 reached. 10% up from suggested level.
MACD, RSI and Moving averages are still giving bullish indication. Can eye 295 as Next Target.
Comment:
24-May-2024
----------------
LTP: Rs. 297.20
3rd target of 295 reached. 20% up from suggested level.
MACD, RSI and Moving averages are still suggesting bullish momentum. Can eye 309 as Next Target.
----------------
LTP: Rs. 297.20
3rd target of 295 reached. 20% up from suggested level.
MACD, RSI and Moving averages are still suggesting bullish momentum. Can eye 309 as Next Target.
----------------
LTP: Rs. 258.80 on 18-May-2024
1st target reached.
NEXT TARGET: Rs. 275