The up-move in the stock of BHEL is gaining momentum by rising over 3 per cent on Wednesday.
This has brought the sideways consolidation between ₹230 and ₹240 that was in place for more than two weeks to an end.
In addition to this, the stock is moving inside a bull channel since mid-August this year. This strengthens the bullish case.
Support is in the ₹240-₹235 region. BHEL share price can rise to ₹260, the upper end of the channel, in the coming weeks.
Traders can buy BHEL now at ₹246. Accumulate on dips at ₹242. Keep the stop-loss at ₹236. Trail the stop-loss up to ₹249 as soon as the stock goes up to ₹253.
Revise the stop-loss higher to ₹252 and ₹256 when the price touches ₹255 and ₹258 respectively. Exit the long positions at ₹260.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Published on October 30, 2025
