Overall View

BHEL remains structurally bullish across HTF, MTF and ITF. The ₹371–₹379 zone is the key demand/support cluster. A sustained move above ₹396 would strengthen the immediate bullish setup, while ₹446 is the major resistance/confirmation level before the ₹537 positional target.

fULL LENGTH tARGET CLOSE TO 760
Final View

BHEL – BULLISH BUY SETUP

Entry: ₹387
SL: ₹371
Target: ₹537
Extended Target: ₹761
Risk: ₹16/share
Reward: ₹150/share
Gross R:R: 1:9.38
Net R:R: 1:8.28

Key Support: ₹371–₹379
Breakout Confirmation: ₹396
Major Resistance: ₹446
Setup Invalidation: Below ₹371

The strongest feature of this setup is the multi-timeframe alignment: HTF + MTF + ITF are all UP, with ₹371–₹379 acting as a common demand cluster. The key risk is that the attractive 1:9.38 R:R does not itself guarantee probability of success; ₹446 remains the critical validation point before expecting ₹537.

dERIVATION
Multi-Timeframe Demand Analysis
Timeframe Demand Zone Proximal Distal Average Trend Interpretation
Yearly 239–335 335 239 287 UP Strong HTF support
6-Month 176–295 295 176 236 UP Major structural support
Quarterly 249–335 335 249 292 UP Strong demand
HTF Average 221–322 322 221 272 UP Bullish structure

Monthly 353–358 358 353 356 UP Immediate structural support
Weekly 371–396 396 371 384 UP Key trading zone
Daily 371–387 387 371 379 UP Immediate demand
MTF Average 365–380 380 365 373 UP Positive

240 Min 371–379 379 371 375 UP Short-term demand
180 Min 371–379 379 371 375 UP Short-term demand
60 Min 371–379 379 371 375 UP Short-term demand
ITF Average 371–379 379 371 375 UP Bullish