Published on 13/10/2017 3:20:49 PM | Source: Choice Broking

Buy Bharat Electronics Ltd For Target Rs.180.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report | #Power Sector #Bharat Electronics Ltd #Trading Report #Choice Broking


* On an hourly chart, we can see a positive crossover of the 20*50 hours exponential moving average which is leading the stock in a northward direction.

* Moreover, the stock has given a breakout of its Upper leg of Ascending Triangle formation which is considered as a bullish formation and indicates an upside movement.

*  On a daily chart, the stock has been continuously trading with its strong support of 100 days moving average which suggests that the medium to long-term trend is up.

* A daily momentum indicator RSI reading is at 58.73 level, trending above the mid-line which points out for a positive breath in the stock.

* Based on the above technical setup, we are expecting an upside movement in the counter in few trading sessions.

 

 

Recommendation

Buy Bharat Electronics Ltd @ 169-171.05 StopLoss 165 Target 180

 

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