BHEL - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.7

Here’s a detailed technical analysis of BHEL (Bharat Heavy Electricals Ltd)

📊 Trend Overview

Current Trend: Mildly bullish

Status: The stock is currently consolidating, with price hovering around the 200-DMA and momentum indicators showing mixed signals.

📈 Moving Averages

DMA 50: ₹230

DMA 200: ₹234

Current Price: ₹234

✅ Price is right at the 200-DMA and slightly above the 50-DMA, indicating a potential breakout zone. Sustained movement above ₹240 would confirm bullish continuation.

📉 Momentum Indicators

RSI (14-day): 61.8 — Bullish zone, but nearing overbought territory.

MACD: +0.99 — Mild bullish crossover, indicating early signs of upward momentum.

Volume: 47.5 lakh vs 1-week avg of 66.3 lakh — Below average, suggesting weak participation and lack of conviction.

📊 Bollinger Bands

Price is near the middle band, indicating low volatility and indecision. A breakout above the upper band (~₹240–₹245) would signal momentum.

🔍 Support & Resistance Zones

Level Price (₹) Commentary

Support 1 230 50-DMA, immediate support

Support 2 220 Previous swing low

Resistance 1 240 Minor resistance zone

Resistance 2 255 Trendline resistance

Resistance 3 291 52-week high, major breakout level

🎯 Entry & Exit Zones

Optimal Entry: ₹230–₹235 range on pullback with volume confirmation.

Exit Zone: ₹255–₹275 for short-term traders; ₹290+ for medium-term breakout players.

⚠️ Short-Term Signals

MACD mildly bullish, RSI strong, and price at key averages suggest potential for upside.

However, volume weakness and negative quarterly profit (-₹455 Cr) raise caution.

Watch for breakout above ₹240 with volume surge to confirm trend.

🧭 Summary

Trend: Consolidating with bullish bias

Momentum: Moderate; MACD and RSI support upside, but volume and fundamentals temper enthusiasm

Technical Rating: 3.7 — Constructive setup with breakout potential, but confirmation needed

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