BEL Share Price Target 2026: Bajaj Broking has recommended buying Bharat Electronics Limited (BEL) shares, calling it a high conviction pick. Bajaj Broking said that BEL shares have the potential to move close to the Rs 500 levels in the near term.
Bajaj Broking has set the BEL share price target at Rs 495. The target price offers an upside of 10 per cent from Thursday's (April 23) close of Rs 449.75.
BEL Share Price Target 2026: Brokerage Commentary
Bajaj Broking said that BEL stock is in a structural uptrend, forming higher highs and higher lows in all time frames, signaling strength and continuation of the uptrend. The entire up move of the last 8 months is in a rising channel, as can be seen in the chart, highlighting sustained demand at elevated levels.
On the smaller time frame, the stock is at the cusp of generating a breakout above the bullish Flag like formation as a post a sharp up move in the first 3 weeks of April the stock went into a consolidation phase in the last four sessions . It is seen resuming up move and is at the cusp of generating a breakout above the bullish Flag formation highlighting continuation of the up move and offers fresh entry opportunity.
BEL Share Price Target 2026
We expect the stock to extend the up move and head towards Rs 495 levels in the coming months being the confluence of the 123.6% external retracement of the previous decline Rs 473 - 400 and the upper band of the rising channel of the last 8 months.
BEL Share Price Target 2026: Support
The stock has immediate support at Rs 420 - 430 levels being the confluence of the 50 days EMA
and the 61.8 per cent retracement of the recent up move (Rs 400 - 464).
On the momentum front, the daily MACD is in uptrend and sustaining above its nine periods average thus validates positive bias in the stock .
