BEL Powers Nifty 50 As Defense Stocks Gain; SEBI RA Orchid Research Sets ₹365 Target

Indian defense stocks rallied sharply today, with BEL emerging as the top contributor to the Nifty 50. Orchid Research flagged a breakout with strong volumes and momentum, setting a near-term target of ₹365.

Indian defense stocks were in the spotlight today as investor interest surged across the sector. 

Bharat Electronics (BEL) emerged as the strongest performer, topping the Nifty 50 charts with a sharp rally driven by strong technical signals and broader optimism around defense spending.

According to Orchid Research, BEL broke out of a long-term consolidation range with significant volumes, forming a strong green candle on the charts. 

The breakout was backed by positive momentum indicators, including the Average Directional Index (ADX), reinforcing the stock’s bullish structure.

They set a short-term target of ₹365 for BEL, with a stop loss at ₹318, suggesting further upside could be in store.

The rally in defense counters came amid expectations of increased government focus on the defense sector.

India and Pakistan announced a ceasefire on Saturday, ceasing border military actions. 

This followed heightened tensions after India's Operation Sindoor on May 7, which targeted alleged terrorist sites in Pakistan in response to a prior attack in Pahalgam.

Stocks like Bharat Dynamics (+7%), Zen Technologies (+5%), HAL (+4%), and Paras Defence (+3%) also saw upward moves, reflecting positive sentiment across the board. 

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