BHEL Technical Outlook: Momentum Favors Bulls

is currently trading near ₹299.50 after registering a fresh 52-week high in the previous session, supported by a strong bullish candle. The stock has confirmed a breakout from an inverted head and shoulders pattern, indicating a positive trend reversal, followed by a bullish flag breakout, which signals continuation of upward momentum. From a trend perspective, BHEL is comfortably trading above its 50-day and 200-day moving averages, reinforcing a strong bullish structure. Momentum indicators are also aligned, with MACD turning bullish above the zero line and RSI hovering around 68, suggesting strong momentum while still leaving room for further upside. Technically, the stock is well placed to move toward ₹325–₹335 in the short term, and a sustained breakout above ₹335 could extend the rally toward ₹360+ levels. On the downside, the bullish setup remains valid as long as the stock holds above ₹265 on a closing basis. Overall, BHEL continues to exhibit strong technical strength, with trend, pattern, and momentum indicators supporting further upside in the near term.