Bharat Dynamics Ltd - Breakout Opportunity
Updated
Date: 27-Mar-2024
Rating: Buy - Positional Trade
LTP: Rs. 1,755
Targets: (1) Rs. 1,810 --> (2) Rs. 1,984 --> (3) 2,252
SL: Rs. 1,625
Technical View:
•
BDL is in its primary uptrend since long time and was recently going through it's secondary downtrend.
• After touching the life time high of 1,984.80 on 27-Feb-2024, it has retraced 22% to 1,552.10 level.
•BDL has broke out from its secondary down trend on 26-Mar-2024 with higher volume.
• RSI has crossed 50 on 26-Mar-2024.
• On 27-Mar-2024 it has closed above both 20 DMA and 50 DMA.
• Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Rating: Buy - Positional Trade
LTP: Rs. 1,755
Targets: (1) Rs. 1,810 --> (2) Rs. 1,984 --> (3) 2,252
SL: Rs. 1,625
Technical View:
•
BDL is in its primary uptrend since long time and was recently going through it's secondary downtrend.• After touching the life time high of 1,984.80 on 27-Feb-2024, it has retraced 22% to 1,552.10 level.
•
BDL has broke out from its secondary down trend on 26-Mar-2024 with higher volume.• RSI has crossed 50 on 26-Mar-2024.
• On 27-Mar-2024 it has closed above both 20 DMA and 50 DMA.
• Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Note
17-Apr-2024---------------
LTP: Rs. 1,846.90 (on 16-Apr-2024)
1st target of Rs. 1,810 reached. 5% up from suggested level.
NEXT TARGET: Rs. 1,984
Note
23-Apr-2024-----------------
LTP: 1,923.10
BDL 4% up today. 10% up from suggested level.
Note
24-Apr-2024---------------
LTP: Rs. 2,046.45
2nd target of Rs. 1,984 reached. 17% up from suggested level.
NEXT TARGET: Rs. 2,252
Note
29-Apr-2024----------------
Company has fixed Friday 24 May, 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up.
Trade closed: target reached
06-May-2024---------------
Closing the call. Broke down the secondary uptrend line.
LTP: 1905.60
P&L: +9%
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