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Indian defense stocks were in the spotlight today as investor interest surged across the sector.
Bharat Electronics (BEL) emerged as the strongest performer, topping the Nifty 50 charts with a sharp rally driven by strong technical signals and broader optimism around defense spending.
According to Orchid Research, BEL broke out of a long-term consolidation range with significant volumes, forming a strong green candle on the charts.
The breakout was backed by positive momentum indicators, including the Average Directional Index (ADX), reinforcing the stock’s bullish structure.
They set a short-term target of ₹365 for BEL, with a stop loss at ₹318, suggesting further upside could be in store.
The rally in defense counters came amid expectations of increased government focus on the defense sector.
India and Pakistan announced a ceasefire on Saturday, ceasing border military actions.
This followed heightened tensions after India's Operation Sindoor on May 7, which targeted alleged terrorist sites in Pakistan in response to a prior attack in Pahalgam.
Stocks like Bharat Dynamics (+7%), Zen Technologies (+5%), HAL (+4%), and Paras Defence (+3%) also saw upward moves, reflecting positive sentiment across the board.
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