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.
LongBharatelectronicslong
Long
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
Long
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 Su
Long
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
Long
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
Long
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 wee
Long
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. MA
Long
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 Contr
Long