BEL Stock Analysis: Bounce or Breakdown?

Currently, BEL is trading near ₹303.15, close to the immediate support level of ₹303.30. After a sharp decline, prices are testing a reversal zone. If this zone holds, a potential price bounce can materialize, offering opportunities for entry.

Key Technical Levels:

1. Price Reversal Zone: ₹299–₹297
   This region is marked as a critical area for price reversal. It acts as a demand zone where buyers may step in, provided the price respects and consolidates above it.

2. Target Levels on Bounce:

   • T1 (Target 1): ₹326.55
     This level marks the first resistance zone where profit booking could occur.

   • T2 (Target 2): ₹333.00
     If bullish momentum continues, the next key resistance is ₹333.

Trade Setup & Strategy

• Entry: Near ₹299–₹303, depending on price action confirmation. A bounce with significant volume will validate the entry.

• Stop Loss: Below ₹297 (a break of the reversal zone invalidates the setup).

• Target:

  • T1: ₹326.55 for partial profit booking.

  • T2: ₹333 for extended gains.

BEL’s technical chart presents a clear opportunity for traders to capitalize on a potential bounce. By monitoring the ₹299–₹303 price zone and respecting strict risk management, this trading setup can target ₹326.55 and ₹333 as first and second target, respectively.