2025-05-12 10:28:42 am | Source: Religare Broking Ltd
Stock of the day : Bharat Forge Ltd For Target Rs. 1230- Religare Broking Ltd
Bharat Forge Ltd
Buy Bharat Forge Ltd CMP 1165.60 Range 1162-1168 SL 1130 Target 1230
* The stock rebounded strongly after finding support at the 50% retracement of its previous rally, aligning with the 200-week EMA.
* It then traded in a tight consolidation for a few weeks, forming a base near its short-term averages.
* Following a breakout from this base with strong volumes, the price structure suggests a resumption of the up move.
* Given the price structure along with traction in defense counters, Bharatforg can be considered for initiating longs.
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