Synopsis
BEL stock hit Rs 340 on July 10, 2024, but fell over 16% to Rs 285 by January 20, 2025. It found support near Rs 250 in January, aligning with the 50-week EMA and 200-EMA. The stock completed a double bottom pattern, a bullish reversal signal, suggesting a potential rebound as it bounced strongly from this βW-shapedβ formation.
Bharat Electronics (BEL), a part of the aerospace & defence space, bounced back after testing its 50-exponential moving average (EMA) on the weekly charts in January, which suggests that bulls are trying to make a comeback.Short-term traders with a high-risk profile can look to buy the stock for a target of Rs 330 in the next 3-4 weeks if the momentum sustains, suggested experts.The BEL stock price hit a high of Rs 340 on July 10, 2024, but
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