BEL Bharat Electronics

This stock has given breakout with good intensity of volumes, also RK's mass psychological cloud suggesting upside along with buy signal.
Overall wave structure is showing that we are in impulse only, In pandemic situation also this stock has not gone too low, it has been out performer and making higher highs and higher low structure.
After completing wave 1-2 now we are in wave 3, and inside wave 3 we had completed (i)-(ii)-(iii)-(iv) and now we are in (v) it looks consolidation in wave ii of (v) has been completed and now possibly we are unfolding wave iii of (v) of bigger degree wave 3. however, iii can unfold at 284 areas. On the way down, the recent swing low can provide a good support to watchout for upcoming days, which is pegged at 223.80.
All indicators are also suggesting to go long for ride towards north.

Overall wave structure looks like this

Breakout on daily chart, with good intensity of volumes

RK's mass psychological cloud in buy mode in daily time frame, along with running in buy signal activated, along with breakout.

price challenging upper Bollinger band in daily time frame

Macd in daily positive and uptick above zero line

Macd in weekly uptick above zero line

dmi adx in daily time frame both aligned positive

RSI breakout on daily chart and now uptick above 60

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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

Trade closed: target reached:

Target reached on 16 august