Bharat Forge reclaimed its 200-day moving average, and RSI and MACD technicals show bullish momentum.
The stock formed a double-bottom pattern, seen by technical analysts as a strong reversal signal.
SMC Global Securities recommends a target of ₹1,380-1,400 over the next 5-7 weeks.
Volume trends indicate increasing interest from traders.
Risk lies in input cost volatility for manufacturing and
global metal demand.
If momentum holds, this could be a breakout stock for medium-term portfolios.
Investors may combine this with defensive hedges given global uncertainties.
Stock may serve as bellwether for capital goods / manufacturing segments.
Key support levels around ₹1,200 and resistance near ₹1,450 will be watche
d.
Overall, Bharat Forge looks promising for technical gains, though fundamental
s will matter.