Bharat Electronics Technical Analysis #34: Buy | Target Rs 97 | Arijit Banerjee


Buy Range90 – 92
Target97 – 102
Duration20 – 25 Trading Sessions
Potential Return^5 – 11%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
92.1BUY90 – 9297 – 1028520 – 25 Trading Sessions5 – 11%

# CMP on Mar 06, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 95.
^ The returns are calculated based on CMP#


Bharat Electronics designs, manufactures, supplies and exports electronic equipment and systems for defense and aerospace industry. The company’s products include defense communications, simulators, radars, anti-collision lights, integrated traffic management system and broadcast systems. Founded in 1954, the company is based in Bengaluru India. The company’s profit slumped by 11.25 percent to Rs 507.63 crore on a QOQ basis.

Stock Data
52W High157.95
52W Low72.5
Face Value1
Relative Performance_Bharat Electronics vs Nifty


  • The share price of Bharat Electronics has been a declining trend since its lifetime high of ₹ 193.4 registered during late 2017.
  • The lows of 72-75 zone also correspond to previous intermediate lows which were tested during the past four months, thereby making it a strong support.
  • The share price extended its northward journey post a crucial break-out.
Bharat Electronics Weekly Chart
Bharat Electronics Weekly Chart


  • Higher Tops and Higher Bottoms at Daily Charts.
  • Last few days stock is trading above the 15 days MA and recent closing above the Upper Bollinger Band showing the confidence of my view.
  • Overall a positive chart and momentum pattern indicating that stock will further move up. Look to Buy this stock as per the levels mentioned above.
Bharat Electronics Daily Chart
Bharat Electronics Daily Chart


1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.


The research analysis is prepared by Arijit Banerjee, CMT, CFTe. He is a veteran trader and an active investor having in-depth knowledge in financial market research, advanced technical analysis, market cycle, algorithmic trading and portfolio management. Arijit is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts, USA. SEBI, the regulatory body of Indian financial market also recognizes him as a Research Analyst (INH300006582).


The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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