BHELBharat Heavy Electricals LimitedNSE_DLY:BHELpradyammmOverall 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 TimeframeDemand ZoneProximalDistalAverageTrendInterpretation Yearly239–335335239287UPStrong HTF support 6-Month176–295295176236UPMajor structural support Quarterly249–335335249292UPStrong demand HTF Average221–322322221272UPBullish structure Monthly353–358358353356UPImmediate structural support Weekly371–396396371384UPKey trading zone Daily371–387387371379UPImmediate demand MTF Average365–380380365373UPPositive 240 Min371–379379371375UPShort-term demand 180 Min371–379379371375UPShort-term demand 60 Min371–379379371375UPShort-term demand ITF Average371–379379371375UPBullish