BLS International: Cup & Handle Breakout with Promising Growth
Updated
BLS International: Cup & Handle Breakout with Promising Growth Potential"
Stock: BLS International Services Ltd.
Analysis:
BLS International is showing a bullish cup and handle pattern on the daily timeframe, a classic indicator of potential upward momentum. Backed by increasing institutional confidence and a long-term growth opportunity in the visa and passport services sector, the stock looks well-positioned for an upside.
Key Highlights:
Technical Setup:
Cup & Handle Formation: Indicates a potential breakout. Monitor for volume confirmation above the breakout level. RSI also looks strong.
Institutional Confidence:
FII/FPI Holdings: Increased from 7.40% to 8.96% in Sep 2024 quarter.
Number of FII/FPI Investors: Rose from 121 to 148, signaling rising interest.
Mutual Funds: Increased holdings from 0.87% to 1.13%.
Institutional Investors: Overall stake increased from 8.75% to 10.67%.
Industry Insight:
With only 7.2% of Indians holding passports, the growth in passport issuance and visa applications could drive long-term benefits for companies like BLS International.
Trade Plan:
Entry: Post a confirmed breakout above the handle resistance. already active
Targets: ₹470 (short-term), ₹500 or above (mid-term).
Stop Loss: Below ₹420 to manage risk.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
Stock: BLS International Services Ltd.
Analysis:
BLS International is showing a bullish cup and handle pattern on the daily timeframe, a classic indicator of potential upward momentum. Backed by increasing institutional confidence and a long-term growth opportunity in the visa and passport services sector, the stock looks well-positioned for an upside.
Key Highlights:
Technical Setup:
Cup & Handle Formation: Indicates a potential breakout. Monitor for volume confirmation above the breakout level. RSI also looks strong.
Institutional Confidence:
FII/FPI Holdings: Increased from 7.40% to 8.96% in Sep 2024 quarter.
Number of FII/FPI Investors: Rose from 121 to 148, signaling rising interest.
Mutual Funds: Increased holdings from 0.87% to 1.13%.
Institutional Investors: Overall stake increased from 8.75% to 10.67%.
Industry Insight:
With only 7.2% of Indians holding passports, the growth in passport issuance and visa applications could drive long-term benefits for companies like BLS International.
Trade Plan:
Entry: Post a confirmed breakout above the handle resistance. already active
Targets: ₹470 (short-term), ₹500 or above (mid-term).
Stop Loss: Below ₹420 to manage risk.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.
Trade closed: target reached
481 target reached only in one day of trade
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