Page 12 - Data Patterns News Today

While most analysts believe that the interim budget is a non-event with major changes expected only after the elections, the overall expectation for the defence sector remains positive.

It is an uptrend signal if the RSI value has crossed above 50 from below.

Brokerage firm InCred maintains a cautiously optimistic outlook on the aerospace and defence sector. It has assigned an ‘add’ rating to specific companies within the sector, including Bharat Electronics (BEL), HAL (Hindustan Aeronautics), Data Patterns, and BDL (Bharat Dynamics).

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As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

These defence stocks could continue to soar in the market.

HAL: This Rs 2.23 lakh crore approvals included nod for procurement of light combat helicopters & light combat aircraft Mk 1A (Tejas) from HAL. The AONs have also been accorded for upgradation of Su-30 MKI aircraft indigenously from HAL.

The brokerage, in its report released on Thursday, said, "With increasing indigenization and favourable government policies, defence sector will continue to flourish. We maintain our overweight stance. Our preferred stocks in the sector are HAL, BEL, and Data Patterns."

Brokerage house InCred Equities sees FY24 Nifty target at 21,103 and maintains an ‘overweight’ stance. Meanwhile, it recommends booking profits after a 20.8 percent return from the Nifty Infrastructure index in the last six months.