BEL Breaks ₹450; Eyes Fresh Lifetime High | PSU Defense Stocks Shine | IOC In Focus | ET Now

Описание: BEL Breaks ₹450; Eyes Fresh Lifetime High | PSU Defense Stocks Shine | IOC In Focus | ET Now

Markets remain rangebound with the Nifty stuck between 25,350–25,750. The index has retested the 25,350–25,400 support zone four times in recent weeks, indicating strong demand at lower levels. However, resistance levels are gradually slipping from 25,850 earlier to around 25,650–25,700 now, signaling a tightening range and potential breakout ahead.

Sectorally, PSU stocks, metals, auto, and PSU banks are holding firm, while heavyweights continue to weigh on the benchmark. The tug of war between large caps and broader markets persists.

Stock-specific action is visible in defense and oil marketing names. Bharat Electronics Limited (BEL) has broken above ₹450 and is nearing lifetime highs, with momentum targeting ₹464.

In the OMC pack, Indian Oil Corporation (IOC) has confirmed a breakout above ₹180 and its 52-week high, with upside potential toward ₹194.

Traders are advised to watch key levels closely as the narrowing range may soon lead to a decisive move.


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