BHARATFORG - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 05 Nov 25, 7:43 am

Technical Rating: 4.2

📈 BHARATFORG is currently trending upward with strong momentum indicators and price action above key moving averages. RSI and MACD suggest bullish strength, though nearing overbought territory.

📊 Technical Analysis Summary

• Trend Status: Trending upward
• RSI (67.3): Bullish — strong momentum, approaching overbought zone
• MACD (28.4): Positive crossover — confirms bullish momentum
• Volume: ~16% above 1-week average — healthy buying interest
• DMA 50 & 200: Price above both — confirms bullish structure
• Bollinger Bands: Price near upper band — momentum strong, breakout possible

🎯 Entry & Exit Zones

• Support Levels: ₹1,300, ₹1,270, ₹1,238
• Resistance Levels: ₹1,375, ₹1,420, ₹1,488
• Optimal Entry: ₹1,300–₹1,320 (on minor pullback)
• Exit Target: ₹1,420–₹1,488 (short-term resistance)

✅ Positive

• Strong ROCE (14.6%) and ROE (13.7%) — efficient capital deployment
• EPS of ₹29.3 — solid earnings profile
• Price above key moving averages — confirms bullish momentum
• DII holding increased by 0.85% — domestic investor confidence

⚠️ Limitation

• RSI nearing overbought — potential short-term pullback
• High P/E (45.8) and PEG (3.96) — valuation premium
• Dividend yield of 0.65% — modest income potential

📉 Company Negative News

• Quarterly PAT declined from ₹360 Cr to ₹339 Cr — 9.36% drop
• FII holding declined by 0.75% — slight institutional caution

📈 Company Positive News

• Stock up 73.9% from 52-week low — strong recovery
• MACD and volume trends support continued bullish momentum

🏭 Industry

• Sector: Auto Components / Capital Goods
• Industry P/E: 33.4 vs BHARATFORG’s P/E: 45.8 — relatively overvalued
• Sector outlook supported by industrial demand and export growth

🧾 Conclusion

• BHARATFORG is in a bullish trend with strong technical indicators
• Entry near ₹1,300–₹1,320 with targets at ₹1,420–₹1,488
• Monitor RSI and volume for signs of continuation or exhaustion
• Valuation remains elevated; suitable for momentum traders with risk appetite