Stock to buy in short term: Choice Broking's Sumeet Bagadia recommends this PSU stock as his Dussehra Pick

Stock to buy: Bharat Electronics (BEL) share price has given almost 9 percent returns in the past one month, but has fallen 6 percent in three months. However, in the last 6 months and 1 year, the PSU stock has given 39 percent and 43 percent returns, respectively.

However, analysts believe the BEL stock is technically poised to see a decent upward momentum. Sumeet Bagadia, Executive Director at Choice Broking, has recommended the BEL shares as his Dussehra Pick.

Sumeet Bagadia’s Dussehra stock recommendation:

Buy BEL at ₹404 and up to ₹395| Target Price: ₹444-480

BEL shares are currently trading at ₹406.50 apiece. The large-cap stock is down nearly 7 per cent from its 52-week high of ₹435.95, hit in July 2025. Meanwhile, it touched its 52-week low of ₹240.15 in February 2025.

BEL is attracting investor attention with its strong technical setup and bullish chart structure. Technical analyst Summer Bagadia shared his detailed outlook on the stock, highlighting key patterns, resistance levels, and potential upside.

Bagadia’s Outlook on BEL

BEL has been in the spotlight as the stock shows a powerful bullish pattern on the weekly chart. Technical analyst Summer Bagadia highlighted that the stock has formed a classic Flag and Pole structure. He explained, “After a decisive breakout from a prolonged consolidation range, the stock has exhibited a sharp upward movement forming the ‘pole’, followed by a brief consolidation forming the ‘flag’.”

Currently trading near ₹404.50 with strong volumes, BEL is trading well above its 20-day, 50-day, 100-day, and 200-day moving averages. Bagadia noted, “Immediate resistance is seen around ₹410, which aligns with a trend line hurdle. A breakout and close above this level could open up further upside towards ₹444 and ₹480 in the medium to long term.”

The Relative Strength Index (RSI) is at 62.10, favoring the bulls and confirming the positive momentum. According to Bagadia, dips towards ₹395 can be viewed as fresh buying opportunities, while ₹380 remains a strong support. As long as the stock holds above this zone, the broader outlook stays firmly positive.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.