Dussehra Pick 2025 : Bharat Electronics Ltd For Target Rs.444/480 by Choice Broking Ltd
Bharat Electronics Ltd
Buy BEL @ 404 & Upto 395 for the Target of 444/480 30th September 2025
The stock is currently displaying a strong bullish setup on the weekly chart, forming a classic Flag and Pole pattern. After a decisive breakout from a prolonged consolidation range, the stock has exhibited a sharp upward movement forming the ‘pole’, followed by a brief consolidation forming the ‘flag’. This bullish continuation pattern indicates a shift in market sentiment from neutral to strongly positive. The current price action near Rs.404.50, supported by consistent volume, reflects strong buying interest
Technically, the stock remains robust as it is trading well above its 20-day, 50-day, 100-day, and 200-day moving averages – a key indicator of sustained upside momentum. Immediate resistance is seen around the Rs.410 mark, which aligns with a trend line hurdle. A decisive breakout and close above this level could serve as a strong bullish trigger, potentially opening up further upside towards Rs.444 and Rs.480 in the medium to long term. The Relative Strength Index (RSI) is currently at 62.10, favoring the bulls. The rising RSI trend adds confidence to the strength of this rally, suggesting buyers continue to dominate
Given the bullish chart structure and supportive technical indicators, investors may consider initiating long positions at the current market price of Rs.404.50. Dips towards Rs.395 can be seen as buying opportunities to accumulate further. On the downside, a strong support lies at Rs.380; a breach below this level could act as a short-term risk to the rally. However, as long as the stock sustains above this zone, the broader bias remains positive. This setup offers a favorable riskreward scenario for positional traders looking to capitalize on a breakout-driven momentum rally.
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