OUR RECOMMENDATION
| CMP# | 92.1 |
| Idea | BUY |
| Buy Range | 90 – 92 |
| Target | 97 – 102 |
| StopLoss* | 85 |
| Duration | 20 – 25 Trading Sessions |
| Potential Return^ | 5 – 11% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 92.1 | BUY | 90 – 92 | 97 – 102 | 85 | 20 – 25 Trading Sessions | 5 – 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#
COMPANY OVERVIEW
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 | |
| NSE Code | BEL |
| Sector | Electricals |
| 52W High | 157.95 |
| 52W Low | 72.5 |
| Face Value | 1 |
TECHNICAL OBSERVATIONS (WEEKLY)
- 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.
TECHNICAL OBSERVATIONS (DAILY)
- 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.
