Bharat Electronics Limited Stock Forecast

Bharat Electronics Limited stock price up 2.89% on Friday
(Updated on Jun 14, 2024)

BEL.NS Signals & Forecast

The Bharat Electronics Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹289.64 and ₹263.04. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -2.84%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Bharat Electronics Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹274.15 and ₹260.35. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bharat Electronics Limited finds support just below today's level at ₹274.15. If this is broken, then the next support from accumulated volume will be at ₹260.35 and ₹255.55.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹9.00 between high and low, or 2.99%. For the last week, the stock has had daily average volatility of 3.33%.

Since the Bharat Electronics Limited has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹291.33 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 60 days ago.)

Trading Expectations (BEL.NS) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Bharat Electronics Limited to open at ₹307.20, and during the day (based on 14 day Average True Range), to move between ₹293.98 and ₹325.22, which gives a possible trading interval of +/-₹15.62 (+/-5.05%) up or down from last closing price. If Bharat Electronics Limited takes out the full calculated possible swing range there will be an estimated 10.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹318.65 (2.92%) than the support at ₹274.15 (11.45%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Bharat Electronics Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bharat Electronics Limited stock to perform well in the short-term.

Current score: 4.869 Buy Candidate Unchanged

Predicted Opening Price for Bharat Electronics Limited of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.