BLS International Services Ltd - Breakout Opportunity
Date: 1-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 350.50
Targets: (1) Rs. 372 --> (2) Rs. 397 --> (3) Rs. 429 --> (4) Rs. 517
SL: Rs. 324
Technical View:
•
BLS is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 429.95 on 1-Feb-2024, it has retraced 33% to 288.40 level.
• On 29-Apr-2024,BLS has broke out from its secondary down trend with higher than average volume.
•BLS has also closed above 20 DMA, 50 DMA and 21 DEMA on 29-Apr-2024.
• RSI has formed bullish cross over on 29-Apr-2024 and trading at 56.80 on 30-Apr-2024 indicating bullish momentum in coming days.
• MACD is about to cross 0 line as on 30-Apr-2024.
• 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. 350.50
Targets: (1) Rs. 372 --> (2) Rs. 397 --> (3) Rs. 429 --> (4) Rs. 517
SL: Rs. 324
Technical View:
•
BLS is in its primary uptrend and was recently going through it's secondary downtrend.• After touching the high of 429.95 on 1-Feb-2024, it has retraced 33% to 288.40 level.
• On 29-Apr-2024,
BLS has broke out from its secondary down trend with higher than average volume.•
BLS has also closed above 20 DMA, 50 DMA and 21 DEMA on 29-Apr-2024.• RSI has formed bullish cross over on 29-Apr-2024 and trading at 56.80 on 30-Apr-2024 indicating bullish momentum in coming days.
• MACD is about to cross 0 line as on 30-Apr-2024.
• 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.
Trade closed: stop reached
Stop loss hit. Closing the idea.
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