BLUEDART LONGBLUEDART
RESISTANCE BREAKOUT
BUY ABOVE 2990
FOR TGT 3233
ABOVE 3233 CAN SEE 3500++ LEVELS
SUPPORT 2774 LEVELS
BLUEDART trade ideas
last leg of correctionBluedart is very close to completion of its downtrend.
But for now i will short it with redlines as targets.
Blue Dart is at trend line support level 3455watch the RSI positive divergence.
initial resistance 4100
STOp 3450
BlueDart: 4700 res:5300 supp:4525Blue dart is recovering from the losses, the correction lead the stock to a 50% level. It made a price channel at the bottom. I was bullish first but, When it broke the triple bottom support, I was damn bearish in this stock expecting a 62% correction. You can see the earlier posts.
Now it is poised for a breakout from the flag, coming result must favor a bullish scenario as per the chart. Yes it is preparing for good jump. 5310 is the first resistance.
Once the first resistance is crossed in a swift manner with good volume, it can find new high.
Blue Dart Express-ing “GST”Targets : 4850-5120 Buy Range : Above 4500 Stoploss : Below 4090 Duration : 4-5 weeks
The most important observation in the share price of Blue Dart Express is that the stock has formed a bullish “Double Bottom” as the lows of May 2017 and June 2017 are almost identical at around Rs 4165 signalling a reversal of the corrective trend prevailing since March 2017 at high of Rs 5300.
The stock has recently registered a resolute breakout above the short-term falling trend line resistance joining immediate highs of March 2017 (Rs 5290) and June 2017 (Rs 4500) currently placed at Rs 4325 levels which will act as major support for short term.
Current price action scenario is similar as of previous “Double bottom” formation during the period of (December 2016 to February 2017), Hence we expect a identical move for the stock prices going further.
During the recent up move, the stock has also moved above its 50-Days SMA, which has acted as a strong resistance during the corrective decline. During the last four week’s consolidation the stock is seen taking support at or near the horizontal trendline (pink line) joining from Rs 4170 (December 2016), Rs 4160.65 (February 2017) and the recent two bottoms respectively.
Daily 14 period RSI is trading above the key upper levels of 60 also given a breakout of its own trendline. On its sustaining above 60 levels could mean strengthening of upside momentum in the stock price ahead. ADX plus DI has crossed above minus DI in last trading session, MACD has given a positive signal.
Moreover, the stock is currently placed near the major support area. It is likely to resolve higher from hereon and head towards Rs 4835-4850 (minimum projected targets of above said pattern), over the coming weeks and break of which prices may accelerate towards Rs 5100-5150, Hence advise to Buy at CMP and also adopt buy on dips strategy (price range Rs 4475-4500), maintaining a Stop just below levels of Rs 4090 on closing basis below which our bullish view will be voided.
BlueDart:4220 can come down to 62 % retracement level 3250BlueDart' on break below the support level 4170 ,can come down to 62 % retracement level 3250
Double Bottom Reversal BlueDartThe stock has given classical double bottom breakout that too with divergence. The simple pattern offers a long trade in stock by providing suitable stop loss. Prices can easily climb to 5300 in coming days.
Blue Dart Express - Investment BUY ( SIP basis )Trend is firmly down in multiple timeframes. Due to oversold nature + Positive RSI divergence in week timeframe - expect a sharp 10 to 15% return in next 8 to 12 weeks.
Multiple EW labels : Price is ending 3rd of some degree OR 3rd of C OR C of ABC fall.
Irrespective of the EW labels, bounce should come. Nature of the rise will determine the label.
Bluedart: 4199 is at DB support and a 50 % retrac level 4600Bluedart: 4199 is currently trading at a double bottom support and a 50 % retrace level from its peak, with its strong fundamental, this is really a value investment at this level.
Stock can even come down to 62% retrace 3250 level, is a far possibility, in that case, one should take it as a golden opportunity.
Having an initial target 4600_4950 &5250 in 3 months.
stoploss but customary here 4170.
For young investors please don’t look at the price, look at the value it carries
and have a germ in your portfolio
