Bharat Dynamics Ltd. - Breakout Opportunity
Date: 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:
•
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.
•BDL has recently breakout from it's primary downtrend with higher than average volume.
•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.
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:
•
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.
•
BDL has recently breakout from it's primary downtrend with higher than average volume.•
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.
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