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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.