Bharat Dynamics Ltd - Breakout OpportunityDate : 16-May-2024
Rating : Buy - Positional Trade
LTP : Rs. 2,069.60
Targets: (1) Rs. 2,098 --> (2) Rs. 2,278 --> (3) Rs. 2,571
SL : Rs. 1,938 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 2,097.95 on 25-Apr-2024, it has retraced 14% to 1,805.55 level.
• On 16-May-2024, NSE:BDL has broke out from its secondary down trend with higher than average volume.
• NSE:BDL is already trading above 20 DMA, 50 DMA and 21 DEMA.
• Both RSI and MACD have formed bullish crossover and are trading at 66.32 and 41.62 respectively.
• Looking strong to start a new swing from here.
Key Events:
• 2/1 stock split. Record Date: 24-May-2024
• Quarterly Result and Dividend announcement: 29-May-2024
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.