New Delhi, July 7 -- Shares of J-10 fighter jet maker Avic Chengdu have been caught in a range since the tensions in the Middle East fizzled out with the Iran-Israel ceasefire coming into effect late last month.

At the peak of the Iran-Israel tensions, Avic Chengdu Aircraft's share price had risen to 90.30 yuan. But since then the Chinese defence stock has lost over 8% of its value as of today, July 7. From a technical perspective, too, Avic Chengdu stock has seen failed attempts to break out, thus weakening the sentiment in the stock, as per an expert.

While the J-10 fighter jet maker's stock initially rallied on the news amid a relief rally in Chinese stocks following the ease in Middle East tensions, the stock soon took a backseat. ...