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Bharat Electronics Ltd

Buy BEL @ 430 & Add Upto 421 for the Target of 470/491

BEL is currently trading around 430 and continues to exhibit a strong bullish structure on the weekly chart. The stock has been consolidating near its higher levels after a strong upmove and is now showing signs of renewed buying interest. The overall trend remains positive, supported by a sustained higher-high, higher-low formation, indicating strength in the medium to long-term outlook
The stock continues to trade comfortably above its key 20, 50 and 200 Week EMAS, reflecting strong trend strength and healthy accumulation. The rising EMA structure suggests that the broader uptrend remains intact, while recent price action indicates buyers are actively defending lower levels. Strong support is placed at 398, which is expected to act as a key demand area. A decisive breach below this support zone may weaken the bullish structure and indicate further downside pressure.
Momentum indicators remain constructive, with RSI near the midpoint and showing signs of recovery, signalling improving momentum Investors may consider accumulating BEL at 430 and add on declines towards 421 for potential upside targets of Rs 470 and 491 over the coming months, while maintaining appropriate risk management.

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