outlook for the stock Bharat Dynamics It’s fast. The stock has risen sharply so far this week against the sharp fall seen in the benchmark indices. The rapid growth of 5 per cent on Thursday has got a boost.
Immediate support lies at ₹950. Beneath this, ₹928 is the next strong support which could limit the downside if there is a break below ₹950. If the current momentum sustains, Bharat Dynamics share price may move up to ₹1,100 in next three-four weeks. Traders can go long at current levels and accumulate ₹940 on dips. Place the stop-loss at ₹910 and trail the stop-loss to ₹980 if the stock moves to ₹1,020. Move the stop-loss to ₹1,030 when Bharat Dynamics stock price touches ₹1,045 on the upside. Exit long position at ₹1,070.
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(Note: Recommendations are based on technical analysis. Trading involves risk of loss.)