Bharat Dynamics Ltd - Breakout OpportunityDate : 7-Jun-2024
Rating : Buy - Positional Trade
LTP : Rs. 1,430.95
Targets: (1) Rs. 1,662 --> (2) Rs. 1,891 --> (3) Rs. 2,261
SL : Rs. 1,293 on daily close basis
Technical View:
• NSE:BDL is in its primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 1,662.95 on 3-Jun-2024, it has retraced 22% to 1,293.20 level and taken support at 20 DMA.
• On 7-Jun-2024, NSE:BDL has broke out from its secondary down trend with high volume.
• Prices are trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 59.84 and MACD is trading at 114.27.
• Looking good to start a new swing from here.
• All the above observations are noted in Daily Timeframe.
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. Ideas are published for learning purpose only.
