BHEL Share Price Analysis
BHEL Share Price | On Wednesday, October 13, BHEL shares were trading at Rs 222.40, down 3.40 percent. Stock market experts indicate that there is no reversal formation visible in BHEL’s stock chart. The immediate resistance level is around Rs 250. As long as BHEL shares remain below this threshold, selling pressure may persist. However, the stock is supported between Rs 229 and Rs 215, suggesting limited downside potential.
New Contract Awarded
BHEL has secured a significant contract from NTPC to construct the main plant package for the 3X800 MW Telangana Stage-II Supercritical Thermal Power Plant, marking a notable achievement for the company.
Market Movements
As per the Classic Pivot Level analysis, key resistance levels are identified at Rs 236.52, Rs 243, and Rs 247, while support levels are at Rs 225, Rs 222, and Rs 215. Despite falling 17.25% in the past month and 21.50% over six months, BHEL shares have provided 62.93% returns over the past year and 310.33% over five years.
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Summary at glance
BHEL shares were trading at Rs 222.40 on October 13, down 3.40%. Experts noted no reversal formation in the stock, with immediate resistance at Rs 250 and support between Rs 215 and Rs 229. Despite a 17.25% decline over the past month, the stock has yielded 62.93% returns over the past year and 310.33% over five years. BHEL recently secured a significant contract from NTPC for a thermal power plant project.
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