Bharat Electronics Ltd – Techno Funda
Bharat Electronics Ltd is engaged in manufacture and supply of strategic electronic products primarily to Defense Services. The company exported a range of products and sub-assemblies exported includes LYNX II, radar warning receivers, composite communication system, night vision devices, versatile communication system (VCS), IFF Interrogator, LRF, X-Ray tube, radar finger printing system, ESM system, V/ultra high frequency (UHF) search receivers, shelters, printed circuit board (PCB) assembly, cable harness, components and mechanical assemblies.
Stock has formed a cup with handle pattern on daily chart, this is bullish pattern in nature. Continuous increasing in volume suggesting that stock can move higher from current level so any dips in this stock could be used as a fresh buying opportunity . So we can initiate a buy position between ( 1230-1240) with a stop loss of 1180 and respected target of this pattern seems 1340-1380. Time frame should be 2-3 weeks.