IGI Logo

Future Outlook

• The Rs 173bn Defence PSU is expected to end the current fiscal with a mammoth order book of over Rs.600bn even as the management has guided for an order inflow of Rs.200bn this fiscal.
• Given its track record of execution, robust order accretion and sheer width of its product range positions BEL strongly in the Defence sector this fiscal

Technical Commentary

• The stock has experienced a breakout from a bullish flag formation on the weekly chart. This breakout pattern suggests the potential for further upward movement.

• A robust uptrend is evident in the stock's price action, characterized by consistent higher highs and higher lows, indicating sustained positive momentum.

• Support is observable at 115, which has been acting as a protective barrier for the bulls, potentially preventing further downside movements. For trader the stock presents a potential upside target range of 146 to 157.

To Read Complete Report & Disclaimer Click Here

For More  LKP Securities Ltd Disclaimer  http://www.lkpsec.com/

Above views are of the author and not of the website kindly read disclaimer