Traders can accumulate the stock in the range of Rs 82-85 for the target of Rs 95 with a stop loss below Rs 79.40,
After a downward consolidation, Bharat Electronics has moved up smartly which suggests waning bearishness. The rise in price was backed by decent volume on the daily frame. On the weekly frame, a tweezers candlestick is seen.
In addition, a divergence is seen on the daily RSI which suggests momentum is likely to witnessed positive shift. Traders can accumulate the stock in the range of Rs 82-85 for the target of Rs 95 with a stop loss below Rs 79.40.
Disclaimer: The author is a Technical Research Analyst at Bonanza Portfolio Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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