Bharat Dynamics Ltd. - Breakout OpportunityDate : 11-Dec-2024
LTP : Rs. 1,212.05
Targets: (T1) Rs. 1,350 --> (T2) Rs. 1,496 --> (T3) Rs. 1,662 --> (T4) Rs. 1,794
SL : Rs. 1,049
Technical View:
• NSE:BDL was going through it's primary downtrend since Jul-2024.
• After touching a lifetime high of 1,794.70 on 5-Jul-2024, it has retraced 50% to 890 level.
• NSE:BDL has recently breakout from it's primary downtrend with higher than average volume.
• NSE:BDL is trading above 20 DEMA and 50 DEMA since last few sessions. 20 DEMA has crossed over 50 DEMA.
• RSI is in buy zone and trading at 64.58. MACD has crossed 0 line and trading at 40.98
• Both RSI and MACD are showing positive divergence, indicating trend reversal.
• Looking strong to start an upward journey from here.
Liked the analysis? Boost/Like this idea and follow my ID.
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. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
