BEL looking bullish on chart trading above 200 SMA AND EMA
Bharat Electronics Ltd 2018-19 revenue up 16%
Levels are mentioned on chart.
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Prices have formed nicely "3 Drives Reversal" pattern and offering a good trade at current level.
Risk/Reward Ratio above 3
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Buy BEL above 95.50 with stop loss below 93 for target 99-103. Half hourly stochastic has turnover above signal line. It has taken support on very short term trend line.Once it crosses falling trendline, then we can expect upside move.
BEL seems to have a fresh breakout and have broken the trendline resistance. Later upon correction trendline resistance acted as support and stock is moving up. Many technical analyst and market experts have bullish view on the stock. Good to go long with a closing stoploss of 87 for a target of 100/105/110/115/120.