BLS International Services Ltd - Breakout OpportunityDate : 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:
• NSE: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, NSE:BLS has broke out from its secondary down trend with higher than average volume.
• NSE: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.
Blsinternationltrendanalysis
BLS INTERNATIONS EXTREMLY BULLISH SETUPStock was forming consucutive rounding bottoms on chart followed by a big rounding bottom on weekly chart and also given breakout around 150 level after that stock easily achieved first target of 197 and ready for nex big move towards second target marked on charts..this is how price action works
BLS international Ready to BlastBLS international
1. In the last Trading session stock has given very strong volume supported up move of 17.74%
after a good correction
2. stock is trending near it's resistance /52-week high zone
3.if stocks sustain above 176 then one can look for the next target of 200+
4. a very good fundamentally sound company having debt to equity ratio <1
BLS INTERNATIONAL NSE:BLS
Market shown a breakout in the upside with a big bullish candle, and the volume of the day was outstanding. We have already measure the price range between the resistance and support line and that range paste to the breakout area and predict nearest profit target.
Profit target and stoploss also shown in the above picture.
BLS INTERNATIONAL - MEDIUM TO LONG TERM UNLOCK STOCKThe Company Deals in Providing Services regarding Passport / Visa outsourcing in more than 50+ countries.
The company is Virutally debt Free..
Can be considered as IT stock with Unlock Theme !!
Promoters Holding 74-75%
Financials may See Turnaround soon..
Had faced resitance twice at 125-126 levels.. its better to buy only on watching close above 126 levels.. even if buy takes above 130 its fine !!!
Can do wonders from here..