Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "Bharat Electronics (BEL) has been consolidating for last almost 3-4 weeks and today has given a fresh breakout about Rs 3,650 on a daily and weekly basis. Volumes have surged strongly in last two weeks and even if you look at in terms of delivery volumes, we have seen a good amount of pick up in delivery volumes as well."
"I am expecting the stock to cross it's previous all-time high and can target somewhere around Rs 4000-4050 in a short span of time. However if you look at the kind of chart structure this stock has formed, I will not be surprised to see it crossing Rs 4,250 in next 3-5 months. So, overall BEL is a buy at current level with a stop loss below Rs 3,570 and on upside expecting a target of Rs 4,000 in a short span of time," he said.
Disclosure: Analyst does not have any personal holdings.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
