BEL - Good buy ?
-Q3 result was good, and future expectations was also positive yesterday.
-Technically, election day low has series of strong support around 230 - 200 zone, and can act as a very very strong support, in case the stocks falls significantly. While the level of 300-310 followed by all time high of 340 can act as short term resistance.
-The recent correction has removed froth in the stock (now ~ 40P/E ratio), and looks to be the strongest stock in the Defence sector (followed by HAL).
-Technically, election day low has series of strong support around 230 - 200 zone, and can act as a very very strong support, in case the stocks falls significantly. While the level of 300-310 followed by all time high of 340 can act as short term resistance.
-The recent correction has removed froth in the stock (now ~ 40P/E ratio), and looks to be the strongest stock in the Defence sector (followed by HAL).
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