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Bharat Electronics Ltd

* BEL has been trading with the corrective bias for the last seven months, after making a record high at 114.65.

* Seeing gradual recovery from the last one month. Formed a fresh buying pivot while holding above the short term moving average i.e. 20 EMA.

* Trading on the verge of reversal, with the breakout from a declining trend line.

* We thus suggest initiating fresh longs as per the given levels.

Technical Chart : Daily

Buy Bharat Electronics Ltd CMP 103.30; Range 102-104; SL 99.50; Target 112

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