Foram_Chheda_CMT

Buy BLUESTARCO with short term holding target of 900

Long
NSE:BLUESTARCO   BLUE STAR
NSE:BLUESTARCO

The stock is seen trading presently in a broad ascending triangle pattern. This is a bullish pattern and especially more potent as it is formed over couple of months. The stock is staring at a breakout from the current formation. Daily MACD has reported a positive crossover. Weekly MACD too has reported a positive crossover. They both are bullish trading above its signal line. RSI has marked a fresh 14-period high which is bullish and is seen breaking out of a formation. The prices have closed above the upper Bollinger band , though pulled back a bit which is normal.. This makes upside breakout more likely.

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