The shares of the famous defense company Bharat Dynamics Ltd – BDL saw a huge rise on Friday.

The stock gained 5% to reach Rs 1317.
However, the market fell slightly to Rs 1293 until the market was closed, but still recorded a lead of 3.71%.

Now the question is, what is the real reason for the boom in BDL shares?

Stock up with the hope of getting defense order

On Thursday, the Defense Acquisition Council (DAC) approached the 8 defense order proposal worth Rs 54,000 crore.
It also includes 1350 HP engine for T-90 tanks and Varunastra Torpedoes.
Bharat Dynamics LTD creates Varunastra Torpedo, which has increased the hope of getting new orders for the company.
This is why investors made tremendous purchases in this stock.

Great performance of defense stock

1 week: +16% returns
1 month in: +28% returns
1 year in 1 year: +55% returns

The Sensex has gained just 5.87% in the same period.

BDL investors are getting great profits and this stock remains in a rapid trend.

Experts’ opinion: Will this stock increase even further?

Resistance at Rs 1340 level:

• Experts believe that BDL’s stock may feel some interruption at a level of Rs 1340.

RSI (Relative Strength Index):

• Current RSI: 69

• If the RSI goes above 70, it will move into the overbough zone, that is, it can be seen in it.

What to buy?

• Stocks can see further boom when a level break of Rs 1340.

• If the price falls from here, you can get support at the level of Rs 1200-1220.