'An upside of 390 to 420 is possible in the case of BEL': Analyst on BEL stock potential

Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan, shares his expert analysis on Bharat Electronics Limited (BEL), a key player in India’s defence sector. A viewer holding 2,000 shares of BEL at an average price of ₹322 for over a year seeks guidance on the stock’s outlook amid recent recoveries in defence stocks like BEL and HAL. Jatin highlights that BEL has entered a strong technical structure, breaking past its prolonged consolidation phase and now showing signs of an impending breakout above ₹320. He believes that once this level is convincingly breached, the stock holds potential to rally towards ₹390–₹420 in the next 3 to 6 months