Stock of the day: Buy Bharat Electronics Ltd For Taget Rs.112 - Religare Broking
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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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