Chart of the week. BEL

10 באפר׳ 2022

BEL has given a up flag breakout on its Daily and weekly charts. PSU index in nifty has also given breakout last week therefore, i m recommending this stock for buy. This stock is trading under blue sky territory so there will be no upper limit for this stock. However, the first target/ resistance for the stock would be 277 which is also its Fibonacci level 1.6.

CMP - 239
Target - 277, 300, 350 Weekly
SL - 214 Weekly
View - Medium to Long term.