BEL recovery gains strength above ₹390 support

BEL is showing a sharp recovery on the 4-hour chart after forming a base near ₹355–₹360. Price is now near ₹393.60, above the short moving-average support near ₹390.14, while the upper moving-average level is around ₹395.93. This places the stock close to an important breakout zone. The coloured MACD has turned constructive. The MACD line is above the signal line, and the histogram remains positive, showing improving buying momentum. The recent green background also supports the recovery phase. However, the sharp move from the lows means price may pause near resistance before the next leg. ₹390 is the immediate level to hold. Staying above it keeps the short-term recovery structure intact. A decisive close above ₹396 can open room toward ₹400–₹405, followed by the earlier supply zone around ₹416. If BEL falls back below ₹390, the first support lies near ₹384, while ₹376 is the next important support zone. The setup remains positive as long as the moving-average support holds and MACD stays above the signal line. BEL