Bharat Dynamics Ltd. has broken up through the ceiling of the rising trend channel in the medium long term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. The price has also broken a resistance level in the short term and given a positive signal for the short- term trading range.
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There is no resistance in
the price chart and further rise is indicated. In
case of a negative reaction, the stock has
support at approximately 1000 rupee.
Positive volume balance indicates that buyers
are aggressive while sellers are passive, and
strengthens the stock. The stock is overall
assessed as technically positive for the
medium long term.
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