Bharat Electronics Limited is engaged in design, manufacture and supply of electronics products/systems for the defense requirements, as well as for nondefense markets. The Company’s principal products/services include weapon systems, radar and fire control systems, and communication. Its defense products include defense communication; radars; naval systems; command, control, communications, computers, and intelligence systems; weapon systems; telecom and broadcast systems; electronic warfare; electro optics, and solar photovoltaic systems.
|Company||Bharat Electronics Ltd.|
|Recommendation||Accumulate (Rs.123- Rs.124)|
|Stop Loss (SL)||Rs.117|
|Time Horizon||2-4 Weeks|
Long term trend is up in this stock. The stock has given a breakout from an inverted head and shoulders pattern on the daily and weekly chart. Moreover, the stock has also made a double bottom pattern which is bullish in nature. Increase in volume and positive diversion from oscillator indicate that it can move higher from current levels so one can accumulate the stock at CMP and further accumulate on a dip between (Rs 123-124) With a stop loss of Rs. 117 on closing basis and respected target seems Rs 140-150. Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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