BEL tops Sumeet Bagadia’s Dussehra 2025 pick with a target of Rs 480

Dussehra 2025 stock idea: Sumeet Bagadia of Choice Broking has suggested defence stock Bharat Electronics Ltd as his top Dussehra 2025 stock pick, citing a strong bullish setup on the weekly chart. In a note, Bagadia said the stock is forming a classic Flag and Pole pattern. 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’, Bagadia explained.

"This bullish continuation pattern indicates a shift in market sentiment from neutral to strongly positive. The current price action near Rs 404.50, supported by consistent volume, reflects strong buying interest. Technically, the stock remains robust as it is trading well above its 20-day, 50-day, 100-day, and 200-day moving averages – a key indicator of sustained upside momentum," Bagadia said. 

The analyst believe immediate resistance for BEL is seen around the Rs 410 mark, which aligns with a trend line hurdle. A decisive breakout and close above this level could serve as a strong bullish trigger for BEL, potentially opening up further upside towards Rs 444 and Rs 480 in the medium to long term, Bagadia said. 

The Relative Strength Index (RSI) for BEL is currently at 62.10, favoring the bulls. The rising RSI trend adds confidence to the strength of this rally, suggesting buyers continue to dominate. 

"Given the bullish chart structure and supportive technical indicators, investors may consider initiating long positions at the current market price of Rs 404.50. Dips towards Rs 395 can be seen as buying opportunities to accumulate further. On the downside, a strong support lies at Rs 380; a breach below this level could act as a short-term risk to the rally," Bagadia said. 

As long as the stock sustains above this zone, the broader bias remains positive, Bagadia said adding that this setup offers a favorable risk-reward scenario for positional traders looking to capitalise on a breakout-driven momentum rally.