BEL Poised for Final Wave Up Surge after Forming a BaseElliott Wave structure suggests Bharat Electronics has completed its Wave (iv) correction, forming a base for a potential Wave (v) upside move toward fresh highs.
Bharatelectronicslong
Bharat Electronics cmp 308 by Daily Chart viewBharat Electronics cmp 308 by Daily Chart view
- Price above EMA 14-21-50-100-200
- Volumes spiking over the past week
- Falling Resistance Trendline Breakout done
- Price Band 284 to 290 acting as Support Zone
- Stock Trading Range 265 to 309 with probable breakout attempts
- Daily Support at 295 > 281 > 265 with Resistance seen at 327 >> ATH 340.50
Bharat Electronics Ltd. - Breakout OpportunityDate : 27-Nov-2024
LTP : Rs. 307.35
Targets: (T1) Rs. 323 --> (T2) Rs. 340 --> (T3) Rs. 391
SL : Rs. 281
Technical View:
• NSE:BEL is in strong primary uptrend and was recently going through it's secondary downtrend within primary uptrend.
• After touching the high of 340.5 on 10-Jul-2024, it has retraced 24% to 257.45 level.
• NSE:BEL has breakout from it's secondary downtrend with higher than average volume on 27-Nov-2024.
• NSE:BEL is trading above 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has crossed over 50 DEMA on 27-Nov-2024.
• RSI is in buy zone and trading at 64.48. MACD is bullish and trading at 2.36.
• Both RSI and MACD are showing positive divergence.
• Looking good to start a new swing from here.
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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. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
BEL Q2 Growth of 14.8% Signals Potential Breakout, Targeting 340Details:
Asset: Bharat Electronics Limited (BEL)
Breakout Level: Watch for technical confirmation of breakout
Potential Target: 340+
Stop Loss: Below recent support levels or as per individual risk tolerance
Timeframe: Short to medium-term
Rationale: BEL reported a strong Q2 performance with a 14.8% growth, signaling robust financial health. This positive development increases the likelihood of a breakout, supported by improved fundamentals and investor sentiment.
Market Analysis:
Fundamental Support: The Q2 results showcase BEL’s continued growth trajectory, potentially attracting more interest from institutional and retail investors.
Technical Setup: The stock is showing signs of consolidation, with a breakout appearing imminent. Watch for sustained movement above resistance levels.
Price Target:
Based on technical and fundamental analysis, the stock could reach 340+ post-breakout.
Risk Management:
Implement a stop loss near the recent support levels to minimize downside risks in case of a reversal.
Timeframe:
The move toward 340+ is expected over the short to medium term, contingent on sustained buying pressure and broader market conditions.
Risk-Reward Ratio:
With strong Q2 fundamentals and an imminent technical breakout, the setup offers a favorable risk-reward ratio for bullish investors.
Keep an eye on the stock’s price action and volume as it approaches critical resistance levels for confirmation of the breakout.
BEL - Path for the futureCurrently BEL at resistance of 290
Downside trend line support near 277 - 280
Strong area of support at 265 - 268 (SL Area)
Expect 325 - 335 in coming days
Bharat Electronics Ltd - Breakout OpportunityDate : 7-Jun-2024
Rating : Buy - Positional Trade
LTP : Rs. 283.20
Targets: (1) Rs. 323 --> (2) Rs. 380
SL : Rs. 241 on daily close basis
Technical View:
• NSE:BEL is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 323 on 3-Jun-2024, it has retraced 29% to 230 level.
• On 7-Jun-2024, NSE:BEL has broke out from its secondary down trend with high volume.
• Prices are trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 56.80 and MACD is trading at 11.63.
• Looking good to start a new swing from here.
• All the above observations are noted in Daily Timeframe.
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.
Bharat Electronics Ltd - Breakout OpportunityDate : 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:
• NSE:BEL is in its primary uptrend and also going through it's secondary uptrend.
• Within the current secondary uptrend, NSE:BEL has retraced 9% from top and again started the upward journey from 14-May onwards.
• On 16-May-2024, NSE: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, NSE: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.
Bharat Electronics Ltd - Breakout OpportunityDate : 28-Mar-2024
Rating : Buy - Positional Trade
LTP : Rs. 201.50
Targets: (1) Rs. 216 --> (2) Rs. 240
SL : Rs. 185
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.
Bharat Electronics Ltd - Breakout OpportunityDate : 15-Feb-2024
Rating : Buy (Mid Term as well as Long Term Opportunity)
LTP : Rs. 185.95
Targets: (1) Rs. 195 --> (2) Rs. 210 ++
SL : Rs. 178
Technical View:
NSE:BEL has break out from its secondary down trend within primary uptrend. RSI has crossed 50 and MACD is above 0. Indicating bullish sign for coming days.
Company Info:
NSE:BEL is a multi-product, multi-technology, conglomerate that provides products and systems to India's armed forces in areas of Radars and fire Control Systems, Missile Systems, Communication and C4I systems, Electronic Warfare & Avionics, Naval Systems & Antisubmarine Warfare Systems, Electro Optics, Tank Electronics & Gun Upgrades, etc.
Products and Services: ORA Weapon System, Lithium Ion batteries and fuel cells, Renewable Energy, Space Electronics, Network and Cyber Security, Railway and Metro.
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.
