Price and trend forecast of BHEL for Tomorrow, Weekly, Monthly
Bharat Heavy Electricals Limited
Symbol: NSE:BHEL
ISIN: INE257A01026
317.30
As on 2024-07-26
BHEL's Today's Performance
Bharat Heavy Electricals Limited started the day by opening at 313.50 today 2024-07-26. Its shares reached a high of 318.25 and dipped to a low of 310.75 in intraday. When the markets closed, BHEL’s stock price settled at ₹317.30 per share. Also check out its key support and resistance levels.
BHEL Buy/Sell Targets
Tomorrow, buy BHEL when its price reaches ₹ 317.30 with a stop-loss order at ₹ 313.07. You can set the target price as ₹ 321.53 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of BHEL for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for BHEL
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 320 |
| Tomorrow Down Target 2 | 323 |
| Tomorrow Down Target 3 | 328 |
Important Levels for BHEL
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 313 |
| Tomorrow Up Target 2 | 308 |
| Tomorrow Up Target 3 | 305 |
Based on where the stock opens tomorrow, if BHEL opens on a positive note, our first target will be ₹320. If Target 1 is achieved, we will aim for Target 2 which is ₹323.
But if BHEL falls below the average value of ₹315.43, you can enter a sell side position with target number 1 - ₹313 and second target - ₹308 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of BHEL
Looking at BHEL, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, BHEL has been on a Downward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for BHEL is strong bearish.
Tomorrow's Volume based share price Forecast for BHEL
BHEL's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 24%.
Reversal detection for BHEL
BHEL may trend may continue to be bullish since stock is making higher highs and we can get target of ₹308 in morning tomorrow
| Target 1 tomorrow | 318 |
| Target 2 tomorrow | 320 |
| Target 3 tomorrow | 323 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with BHEL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if BHEL opens on a positive note, our first target will be ₹320.12. If Target 1 is achieved, we will aim for Target 2 which is ₹322.93.
But if BHEL falls below the average value of ₹315.43, you can enter a sell side position with target number 1 - ₹312.62 and second target - ₹307.93
BHEL's Weekly Targets
| 1st Up Target | 329.37 |
| 2nd Up Target | 341.43 |
| 1st Down Target | 294.12 |
| 2nd Down Target | 270.93 |
As the week for BHEL ended on bullish sentiments, we can expect further continuation of this sentiment. BHEL's initial target will be 329.37 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 294.12 in the upcoming week.
Weekly OHLC Values
| Open | 294.10 |
| High | 318.25 |
| Low | 283.00 |
| Close | 317.30 |
Week for BHEL started with an open price of 294.10, and the close was at 317.30. BHEL reached the highest of 318.25 and dipped lowest up to 283.00 last week. This indicates a bullish sentiment for the week.
BHEL full month swing targets
| Monthly Up Target 1 | 364.62 |
| Monthly Up Target 2 | 376.68 |
| Monthly Down Target 1 | 258.87 |
| Monthly Down Target 2 | 200.43 |
Targets of ₹364.62 can be expected to be reached in the coming month. Once BHEL achieved this target, we can aim for the next upside target of ₹376.68.
BHEL if fails to hold upside, down targets of ₹258.87 and ₹200.43 can be achieved by end of this month.
For complete three weeks if BHEL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as BHEL
| Symbol | Name | Industry |
|---|---|---|
| LT | Larsen & Toubro Limited | Engineering & Construction |
| ADANIPORTS | Adani Ports and Special Economic Zone Limited | Marine Shipping |
| HAL | Hindustan Aeronautics Limited | Aerospace & Defense |
| SIEMENS | Siemens Limited | Specialty Industrial Machinery |
| BEL | Bharat Electronics Limited | Aerospace & Defense |
Summary
BHEL is expected to reach the target of 320.12 in tomorrow's trading session.
After achieving the initial target in BHEL, we will aim for higher targets of 322.93 tomorrow.
However, if BHEL starts to trade below ₹315.43, then we will shift our focus to the sell side and aim for down targets of 312.62 and 307.93.