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Rakesh Madhav CFA

30th Nov · SEBI-Registered Analyst

BHEL — Powering Up Again ⚙️

BHEL
traded steady at ₹290.8, maintaining its bullish structure after a strong run-up in recent weeks. The stock continues to exhibit resilience, holding near multi-month highs supported by strong sector momentum in capital goods and power. Technical View: Price sustained above its 9-EMA (₹285.9), showing continued strength. RSI (14) at 69.4, hovering near overbought but still stable — momentum intact. Volume holding firm; stock consolidating for a possible next leg up. Support: ₹282–₹285 | Resistance: ₹296–₹302 | Bias: Bullish continuation on breakout above ₹300. Fundamental View: Order inflows from PSU and renewable projects strengthening outlook. Margins improving with execution efficiency and strong order book visibility. Analysts see FY26 revenue expansion driven by power and defence segments. Outlook: Sustaining above ₹290 could trigger a move toward ₹305–₹310 in the near term. Dips may attract fresh accumulation.

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