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    Stock Radar: 100% in 1 year! Should you book profit or buy this defence stock which hit record high in April?

    Synopsis

    The defence stock moved in a narrow range in February 2024, where levels below 2,000 acted as a stiff resistance while on the downside 1,500 acted as a strong support. It took support above 1,500 levels once in February 2024 and then again in March 2024, creating a double bottom pattern.

    Bharat Dynamics, a part of the aerospace and defence industry, has more than doubled investors' wealth in the last 1 year but chart patterns suggest that the rally may not be over yet.Short-term traders can look to buy the stock for a target above 2,100 levels in 2-3 weeks, suggested experts.The defence stock rose from Rs 990 on April 24, 2023, to Rs 2,039 recorded on April 24, 2024, which translates into an upside of 105% in a year.The stock
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    The Economic Times