Buy Bharat Electronics, target Rs 101: HDFC Securities
Buy Bharat Electronics at a price target of Rs 101 and a stop loss at Rs 77.
By ETMarkets.com |
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Subash Gangadharan of HDFC Securities has a buy call on Bharat Electronics (BEL) with a target price of Rs 101.
The current market price of Bharat Electronics is Rs 85.
Time period given by the analyst is two weeks when Bharat Electronics price can reach the defined target.
Subash Gangadharan recommended keeping a stop loss at Rs 77.
"BEL has rallied sharply this week on the back of healthy volumes, from the support at Rs 74-75, where it has made a triple bottom. Technical indicators are giving positive signals as the stock trades above the short term (13 day SMA) and medium term (50 day SMA) moving averages. Momentum indicators like the 14-day RSI are in the rising mode and not overbought," Gangadharan said.
BEL, incorporated in the year 1954, is a largecap company (having a market cap of Rs 20,711.04 crore) operating in the electronics sector.
The current market price of Bharat Electronics is Rs 85.
Time period given by the analyst is two weeks when Bharat Electronics price can reach the defined target.
Subash Gangadharan recommended keeping a stop loss at Rs 77.
"BEL has rallied sharply this week on the back of healthy volumes, from the support at Rs 74-75, where it has made a triple bottom. Technical indicators are giving positive signals as the stock trades above the short term (13 day SMA) and medium term (50 day SMA) moving averages. Momentum indicators like the 14-day RSI are in the rising mode and not overbought," Gangadharan said.
BEL, incorporated in the year 1954, is a largecap company (having a market cap of Rs 20,711.04 crore) operating in the electronics sector.
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