Nearest resistance levels are ₹446 and ₹468. The stock has been on an uptrend in the last few months. We expect the scrip to sustain the bullish trend but with a bout of volatility.
F&O pointers: On Friday, BEL March futures closed at ₹426.90 and April futures at ₹429.30 against the spot close of ₹426.10. The counter witnessed a rollover of 11 per cent to next month and the premium indicates rollover of long positions. Option trading indicates a possible movement between ₹400 and ₹470.
Strategy: Consider going long on BEL March futures with an initial stop-loss at ₹418 for a target of ₹440-445. Shift the stop-loss to ₹425 if the stock opens and stays flat on Monday and trail the stop-loss as the contract rallies. Stop-loss should be used diligently to protect capital as well as profit.
This strategy is strictly for traders with high risk tolerance and comfortable with meeting higher margin commitments for trading futures. This trade suggestion is not applicable if BEL opens above ₹440 or below ₹418.
Follow-up: Last week we advised buying the 1270-strike call on ICICI Bank. As expected the stock moved on expected lines and hit the target (₹35). However, it fell sharply on Thursday and Friday.
Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in trading.
Published on March 21, 2026